Question: This is for an excel project, if you could demonstrate on a spreadsheet with formulas shown that would help me understand it the best. THANKYOU

This is for an excel project, if you could demonstrate on a spreadsheet with formulas shown that would help me understand it the best. THANKYOU

Joe's Coffee Shop has fresh muffins delivered each morning. Daily demand for muffins is approximately normal with a mean of 2000 and a standard deviation of 350. Joe pays $0.40 per muffin and sells each muffin for $1.25. Joe and the staff eat any leftovers they can and throw the rest, instead of feeding homeless. What a shame!

b. Using simulation, create 1000 random demand numbers and find the expected profit from the muffins if Joe orders the optimal order quantity. Try two other order quantities to illustrate the change in the expected profit. Provide a short discussion on the relevance of the optimal order quantity and the mean demand.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

I need help with what formulas to use for this assignment to make the whole system work with the markup cost. detailed instructions on how to set up the excel sheet and the proper formulas would be...

Please show how Fixed expenses are cslculated in the contrbution margin income statement please! Your small retail shop specializes in high-end mountain bikes. At this time your store does not have...

IS130 Building a Decision Support System with MS Excel: A Spreadsheet Modeling Assignment Problem Statement: Your small retail shop specializes in high-end mountain bikes. At this time your store...

Please show me the formula or how you get the answers Direct Material Variances Hand Ne Price Nie we At MAP 40 nevis ware Maand Malwe Math Actu AD Nu MORAP AKY Inc Mwen Variante Materiale Mware VW...

1 Budgeted Income Statement 3 Sales 4 Cost of Goods Sold 5 Gross Profit 6 Selling Expenses 7 Administrative Expenses 8 Net Operating Income 9 10 Goal Seek 1 3 # of Unit Sales necessary to have...

please show me the formula or how you get the answers please go down and take it look...i have taken new photo that is clear Accounting 365 Flex Budget Project Instruction BEFORE YOU NON HEAD CLOSELY...

A B. 1 Budgeted Income Statement 3 Sales 4 Cost of Goods Sold 5 Gross Profit 6 Selling Expenses 7 Administrative Expenses 8 Net Operating Income 9 10 B 1 Goal Seek 3 #of Unit Sales necessary to have...

Due Week 4: Work Breakdown Structure According to the PMBOK Guide, "the WBS is a deliverableoriented hierarchical decomposition of the work to be executed by the project team, to accomplish the...

Hello I am going to attach my previous papers for this assignment as well as the rubric. Overall in the rubric I need assistance writing part 5 the conclusion. please give the best answer after...

AC341 ? Excel Project Simulation ? Excel Project #2 IT Experts has received a consulting engagement from Lakeshore Service Station to design a system (simulation) that would help them predict...

The Gleasons owned a large piece of property. Part of it was subject to a public drainage easement. Taub went into the drainage area with a bulldozer and removed 16,000 cubic feet of dirt to use as...

The article Baseball: Pitching No-Hitters (Chance [Summer 1994]: 24 30) gives information on the number of hits per team per game for all nine-inning major league games played between 1989 and 1993....

what is the term for buying another firms' accounts receivable. factoring brokering stocking borrowing

PLEASE TYPE OUT STEP BY STEP USING A FINANCIAL CALULATOR 1. Suppose you have a mortgage loan of $240,000 from your bank to buy your home. This mortgage is for 15 years (180 months), and your monthly...