Question: This homework is based on Chapter 13 (Determining the optimal level of product availability). Please review Example 13-1 in the lecture note/text book and the

This homework is based on Chapter 13 (Determining
This homework is based on Chapter 13 (Determining
This homework is based on Chapter 13 (Determining the optimal level of product availability). Please review Example 13-1 in the lecture note/text book and the Excel file (named Example 13-1.xls) in D2L before working on it. Please also work this problem on the template of Example 13-1.xls. Green Thumb, a manufacturer of lawn care equipment, has introduced a new product. The anticipated demand is normally distributed with a mean of u = 100 and a standard deviation of o = 40. Each unit costs $150 to manufacture and the introductory price is to be $200 to achieve this level of sales. Any unsold units at the end of the season are unlikely to be very valuable and will be disposed off in a fire sale for $50 each. It costs $20 to hold a unit in inventory for the entire season. How many units should Green Thumb manufacture for sale? What is the expected profit from this policy

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