The manager of HerkyHornet press hires you as a consultant. She plans to order a newly-published book that is on the 2022 best-seller list. However, she is not sure about the demand for this book. She collects data about the actual demand for this book from 100 stores in the US. The data are stored in an Excel file titled “Demand Data”. Follow the steps below to do the project:
1. Calculate the mean, median, mode, standard deviation, variance, minimum, maximum, and range of the data.
2. Make a histogram of the data.
3. Conduct a Kolmogorov-Smirnov goodness-of-fit test at α=0.1 and show that the data come from a normal distribution. Plot the cumulative distribution function (CDF) and the empirical cumulative distribution function (ECDF).
4. The selling price, production cost, and salvage value are $120, $70, and $40, respectively. Calculate the expected profit-maximizing order quantity based on the
newsvendor model. Report the total expected profit?

Demand Data

196

174

222

194

179

179

164

284

223

253

239

159

108

235

290

130

117

202

146

215

163

293

234

185

150

229

283

223

202

245

244

244

202

304

284

245

226

214

189

254

221

179

104

308

189

250

177

259

280

336

310

139

231

231

184

216

215

194

148

146

137

286

208

270

260

223

164

268

243

176

214

294

154

151

209

262

171

135

210

316

227

253

268

241

175

193

200

198

237

221

179

221

263

245

157

312

230

168

240

241