Dan McClure owns a thriving independent bookstore in artsy New Hope, Pennsylvania. He must decide how many copies to order of a new book, Power and Self-Destruction, an expos on a famous politician's lurid affairs. Interest in the book will be intense at first and then fizzle quickly as attention turns to other celebrities. The book's retail price is $20, and the wholesale price is $12. The publisher will buy back the retailer's leftover copies at a full refund, but McClure Books incurs $4 in shipping and handling costs for each book returned to the publisher. Dan believes his demand forecast can be represented by a normal distribution with a mean of 200 and a standard deviation of 80. Use Excel.

1. Dan will consider this book to be a blockbuster for him if it sells more than 400 units. What is the probability that Power and Self-Destruction will be a blockbuster? (Note: Round your answer to 4 decimal places.)
2. Dan considers a book a "dog" if it sells less than 50 percent of his mean forecast. What is the probability this expose is a "dog"? (Note: Round your answer to 4 decimal places.)
3. What is the probability that demand for this book will be within 20 percent of the mean forecast? (Note: Round your answer to 4 decimal places.)
4. What order quantity maximizes Dan's expected profit?
5. If Dan orders the quantity needed to achieve a 95 percent in-stock probability, what is the probability that some customer won't be able to purchase a copy of the book? (Note: Round your answer to 2 decimal places.)
6. Suppose Dan orders 300 copies of the book. What is Dan's expected leftover inventory? (Note: Round to the nearest whole number.)
7. Suppose Dan orders 300 copies of the book. What are Dan's expected sales? (Note: Round to the nearest whole number.)
8. Suppose Dan orders 300 copies of the book. What is Dan's expected profit? (Note: Round to the nearest whole number.)
9. How many books should Dan order if he wants to achieve a 95 percent in-stock probability?