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Leonard Presby's newsstand uses naive forecasting to order tomorrow's papers The number of newspapers ordered corresponds to the previous day's demands Today's demand for papers

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Leonard Presby's newsstand uses naive forecasting to order tomorrow's papers The number of newspapers ordered corresponds to the previous day's demands Today's demand for papers was 26 Presby buys the newspapers for $0 20 and sells them for $0.45 Whenever there is unsatisfied demand, Presby estimates the lost goodwill cost at $0 15 Demand 22 23 24 25 26 Probability 0.30 0.05 0.15 0.10 0.40 Use the following random numbers for demand 84 39.3, 69, 88 and 18 Fill in the table below (Enter your responses for domand and papers ordered as whole numbers. Round your responses for revanco, costs and pronto the nearest cents) Day Demand Revenue Cost Papers Ordered 26 Random Number 84 Goodwill Cost Net Profit 1 2 39 3 3 4 69 5 88 IL 6 18 Cost Profit Ordered Number 1 26 84 2 39 3 3 69 4 5 88 6 18 a) What is the demand on day 1? The demand on day 1 is (enter your response as a whole number) b) What is the total net profit at the end of the 6 days? The total net profit at the end of the 6 days is $(round your response to the nearest cent) c) What is the lost goodwill on day 4? The lost goodwill on day 1 is $ (round your response to the nearest cent) d) What is the net profit on day 3? The net profit on day 3 is $(round your response to the nearest cent) e) How many papers has Presby ordered for day 4? Presby has ordered papers for day 4 (enter your response as a whole number) Enter your answer in each of the answer boxes

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