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Long Answer A popular band from the 90s is planning a 3 month reunion tour this fall. The tour consists of 30 shows, each taking
Long Answer A popular band from the 90s is planning a 3 month reunion tour this fall. The tour consists of 30 shows, each taking place venues that seat 500 people. In addition to revenue from ticket sales, the bank would like to sell memorabilia to their fans who attend the concerts. Specifically the band has designed a "reunion tour" t-shirt that will be available for purchase at their concerts. The band plans to sell the t-shirts for $60 apiece, and the band has located a supplier to manufacture the t-shirts who charges a wholesale price of $20 piece. The band uses a normal distribution to describe its forecast for demand for these t-shirts. The band expects 1000 fans to want to purchase a t-shirt, though their forecast includes a standard deviation of 200 to reflect the band's uncertainty about the t-shirt's popularity. The supplier quotes the band a lead time of 4 months
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