Daily Demand for French Baguettes in a bakery during the past 2000 days was logged as shown in the Excel file. The belief is that demand follows a Normal distribution. It costs the bakery $0.78 to bake a baguette and each baguette is sold $1.70. At the end of each day, the leftover baguettes are marked down at $0.45.

a. Fit a Normal distribution to this data to obtain the mean and standard deviation of demand (Note: Do not simply take the mean and standard deviation of data without fitting a distribution. Use the approach discussed in Lecture 10 to fit a Normal distribution to the data, and then use the and that you obtain at the end of the distribution fitting. Attach your distribution fitting Excel file when submitting your homework.)

b. How many baguettes (optimal quantity) should the bakery bake daily to minimize the overall cost?

c. How many baguettes should the bakery bake to guarantee a service level of 97%?

d. How many baguettes should the bakery bake to guarantee a fill rate of 97%?