Question
A few regular customers have asked FFG for SKU J65120Z, which is the ultra stretch blue jeans model. Tammy Nelson has agreed to stock it,
A few regular customers have asked FFG for SKU J65120Z, which is the "ultra stretch blue jeans" model. Tammy Nelson has agreed to stock it, even though sales for this SKU have been slow. After analyzing past data, you have found that a Poisson distribution with a mean of 2.3 closely fits the weekly sales pattern for this SKU. The cost of the SKU J65120Z is $18.25 and the unit sales price is $39.99.
A)What is the probability of selling 0 units of SKU J65120Z ("ultra stretch blue jeans") in a week?
Enter the probability as a fraction, e.g. as a number between 0 and 1 with 4 decimal digits (e.g. for 12.34%, enter 0.1234 as your answer).
B) After seeing the previous result, Tammy Nelson decided to stock only 6 units of SKU J65120Z every week.
What is the probability that your demand for SKU J65120Z ("ultra stretch blue jeans") exceeds the stock level set by Tammy of 6 units?
Enter the probability as a fraction, e.g. as a number between 0 and 1 with 4 decimal digits (e.g. for 12.34%, enter 0.1234 as your answer).
C) What is the probability that your demand for SKU J65120Z ("ultra stretch blue jeans") will be no less than 1 unit and no more than 6 units?
Enter the probability as a fraction, e.g. as a number between 0 and 1 with 4 decimal digits (e.g. for 12.34%, enter 0.1234 as your answer).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started