Question
Consider a local club selling Christmas trees. Daily tree sales are normally distributed, with a mean of 115 and standard deviation of 8. He sells
Consider a local club selling Christmas trees. Daily tree sales are normally distributed, with a mean of 115 and standard deviation of 8. He sells tree for $50 and pays $30 for them. Unsold trees are trashed with no salvage value.
- How many trees should the club order each day?
- What percent of the time the club will experience a stockout?
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High Output Management
Authors: Andrew S. Grove
2nd Edition
9780679762881
