Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can anyone plz help me do this , I also attached the data , please show which formula were used for this You are the

Can anyone plz help me do this , I also attached the data , please show which formula were used for this You are the procurement manager of Tacy's. The supplier offers a new style of classical bomber jacket for the winter season. The purchase cost is $200, and the selling price is $500. You
consider offering a discount for unsold jackets at the end of the season. The discounted price is
$150. The forecasted demand, D, is normally distributed with a mean of 3,000 units () and a
standard deviation of 700 units (). Assume that the A/F ration is 1.
(a) You will get a promotion if the total sold jackets is above 4,000 units. What is the probability
that the actual demand will be 4,000 units or more?
(b) Selling less than 80% of the average forecast may result in the placement of your position
in a lower pay grade. What is the probability of selling more than 80%?
(c) What is the probability that the actual demand is within 25% of the average forecast?
(d) What is the expected profit maximizing order quantity, Q?
(e) Assuming Tacy's Manger enforces and orders quantity of Q=4,500. What are the expected
lost sales?
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these General Management questions