A retailer has one opportunity to purchase a seasonal holiday product from the manufacturer for $120 each and will sell each product for $180. The forecasted demand for this seasonal product is expected to be normally distributed with a mean of 9000 units and a standard deviation of 2000. Products left over after the holiday will be sold to a discounter for $50.

1. Determine the expected order quantity that will maximize profits. 2. Calculate the following performance measure for the order quantity determined in question #1 above a. Expected inventory b. Expected sales c. Expected profit d. In-stock probability e. Stockout probability 3. Suppose the retailer orders 7000 products, what is the: a. Expected inventory b. Expected sales c. Expected profit d. In-stock probability e. Stockout probability 4. Suppose the retailer orders 10,000 products, what is the: a. Expected inventory b. Expected sales c. Expected profit d. In-stock probability e. Stockout probability