Question
needing help with what formulas to place in excel for The manufacturer of a particular bicycle model had the following cost associated with the management
needing help with what formulas to place in excel for The manufacturer of a particular bicycle model had the following cost associated with the management of this product's inventory. In particular, the company currently maintains an inventory of 1000 units of this bicycle model at the beginning of each year. If X units are demanded each year and X is less than 1000, the excess supply, 1000 - X units, must be stored until next year at a cost of $50 per unit. If X is greater than 1000 units, the excess demand, X -1000 units, must be produced separately at an extra cost of $80 per unit. Assume that the annual demand (X) for this bicycle model is normally distributed with mean 1000, and standard deviation 75
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