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i have to submit this homework by tmr morning please help! MGMT216 Business Data Analytics Homework #5 Question 1: You are a newsvendor selling San

i have to submit this homework by tmr morning please help! image text in transcribed
MGMT216 Business Data Analytics Homework #5 Question 1: You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day's paper for $0.25 a copy. You sell a copy of San Pedro Times for $1.00. Daily demand is distributed normally with mean = 250 and standard deviation = 50. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. Part (a). How many copies of San Pedro Times should you buy each morning? Part (b). Based on (a) what is the probability that you will run out of stock? Question 2: Retailers Warehouse (RW) is an independent supplier of household items to department stores. RW attempts to stock enough items for a 98 percent service probability A stainless steel knife set is one item it stocks. Demand (2.400 sets per year) is relatively stable over the entire year. Whenever new stock is ordered, a buyer must assure that numbers are correct for stock on hand and then phone in a new order. The total cost involved to place an order is about $5. RW figures that holding inventory in stock and paying for interest on borrowed capital, insurance, and so on, add up to about $4 holding cost per unit per year. Analysis of the past data shows that the standard deviation of demand from retailers is about four units per day for a 365-day year. Lead time to get the order is seven days. Part (a). What is the economic order quantity

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