Question
Jeeger is a highly perishable Burger. Unfortunately, the texture and color of the burgers are not the same after several hours, so once they are
Jeeger is a highly perishable Burger. Unfortunately, the texture and color of the burgers are not the same after several hours, so once they are prepared in the morning, they can only be sold on the same day. After the store is closed, all remaining Jegger burgers are discarded. Timothy knows you are taking SC1x and ask you for help implementing the best inventory management practices. He also provided you with the following information:
- It costs 2.392 to produce each Jeeger
- Peppers sells each Jeeger for 13.28
- The daily demand of Jeegers is normally distributed with a mean of 74 and a Standard deviation of 8.
Timothy Moore also requested your help with the vegan almond cookies they sell. Demand for cookies is uniformly distributed with a minimum of 10 and a maximum of 53.
Considering that he wants the probability of stocking out to be lower or equal to 15%, what is the optimal quantity of cookies to prepare?
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