(N) answers were generated vaing 1,000 trais and native focel functionaity.) In preparing for the upcoming holiday season, Fresh Toy Company (TTC) designed a new : labor, and whipping casts, is $34 per dol. During the hollday selling season, FTC will sell to everproduces the dols, the excess dolk mit be sold in Janyary through a distributar whe : Goil. Demand for nem toys furing the hoidary selling seavah is untertair. The normal prob. average of 60,000 dols and a standard deviation of 15,000 is assumed to be a gocd deso tentatively decided to produce 60,000 units (the same as averaye demand), but it wants this production quantity before finalizing the decision. (a) Create a what-fl spreadsheet model using formulas that relace the values of productios quanti sales, amount of surplus, revenue from sales of surphns, tutal cost, and net protic. What is the average ifo, 000 units? 4 (b) Modeling demand as a normal fandom varlatile with a mean of 60,000 and a standard deviatic production quarcity of 60.000 dellk? heund your ardiwer it the neares dallar. 1 How does this compare to the profin correiponding to the amerape demand cas computed in p. The average profa feam the simulacion is Ithe profec comsutec production quarcily and a more conservative 50,000 -unt production guaneicy. Ruan your simul quanticies. What is the average profle associaled weth each? haund your answers to the ntares When ondering 50,000 unss, the average prott is approwimately 1 When ondering 70,000 units, the average proht is approwimately 1 (d) Besides average protc, what ocher factors should FTC consider in determining a production of. If required, round Probabily of a Less to three decimal places and Prohatilicy of a Shortage tic cether arriwers to the nearest dolide tovers, (N) answers were generated vaing 1,000 trais and native focel functionaity.) In preparing for the upcoming holiday season, Fresh Toy Company (TTC) designed a new : labor, and whipping casts, is $34 per dol. During the hollday selling season, FTC will sell to everproduces the dols, the excess dolk mit be sold in Janyary through a distributar whe : Goil. Demand for nem toys furing the hoidary selling seavah is untertair. The normal prob. average of 60,000 dols and a standard deviation of 15,000 is assumed to be a gocd deso tentatively decided to produce 60,000 units (the same as averaye demand), but it wants this production quantity before finalizing the decision. (a) Create a what-fl spreadsheet model using formulas that relace the values of productios quanti sales, amount of surplus, revenue from sales of surphns, tutal cost, and net protic. What is the average ifo, 000 units? 4 (b) Modeling demand as a normal fandom varlatile with a mean of 60,000 and a standard deviatic production quarcity of 60.000 dellk? heund your ardiwer it the neares dallar. 1 How does this compare to the profin correiponding to the amerape demand cas computed in p. The average profa feam the simulacion is Ithe profec comsutec production quarcily and a more conservative 50,000 -unt production guaneicy. Ruan your simul quanticies. What is the average profle associaled weth each? haund your answers to the ntares When ondering 50,000 unss, the average prott is approwimately 1 When ondering 70,000 units, the average proht is approwimately 1 (d) Besides average protc, what ocher factors should FTC consider in determining a production of. If required, round Probabily of a Less to three decimal places and Prohatilicy of a Shortage tic cether arriwers to the nearest dolide tovers
