For the entire test, please enter number ONLY. It is recommended that you directly copy results from the Excel. In case you are manually entering the answers, Keep at least 4 decimal place. Problem 1. A retailer estimates that the demand of a certain product follows the normal distribution with mean of 1000 units and the standard deviation of 200 units for this season. The retail price of this product is set at $180 while the cost is S120 per unit. Each unsold product will be put on clearance sales for $80 at the end of this season (assuming all unsold products can be sold during the clearance sales). Question 1.1 What is the cost of ordering one product less than the demand? QUESTION 2 Problem 1 Question 12. What is the cost of ordering one product more than the demand? QUESTION 3 Problem 1 Question 1.3. What is the optimal in-stock probability if the retailer wants to maximize its profit? (express the probability in number, for example for 65.34%, put 0.6534) QUESTION 4 Problem 1 Question 1.4. To maximize the retailer's profit, what is the order quantity for next season? For the entire test, please enter number ONLY. It is recommended that you directly copy results from the Excel. In case you are manually entering the answers, Keep at least 4 decimal place. Problem 1. A retailer estimates that the demand of a certain product follows the normal distribution with mean of 1000 units and the standard deviation of 200 units for this season. The retail price of this product is set at $180 while the cost is S120 per unit. Each unsold product will be put on clearance sales for $80 at the end of this season (assuming all unsold products can be sold during the clearance sales). Question 1.1 What is the cost of ordering one product less than the demand? QUESTION 2 Problem 1 Question 12. What is the cost of ordering one product more than the demand? QUESTION 3 Problem 1 Question 1.3. What is the optimal in-stock probability if the retailer wants to maximize its profit? (express the probability in number, for example for 65.34%, put 0.6534) QUESTION 4 Problem 1 Question 1.4. To maximize the retailer's profit, what is the order quantity for next season