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5. (Submit, 10pts) A university publisher revises a certain textbook every four years. It has to date been three years since the text book was revised. There are currently no copies left in stock. The publisher must determine how many copies of the book should be printed for the forthcoming year (2023). The sales department believes that sales during 2023 are governed by the distribution in the following table. Each copy of the book sold during the next year brings the publisher 38 in revenues. Any copies left at the end of 2023 cannot be sold at full price but can be sold at 5 online. There is a fixed cost of running the printing machine of 50,000. In addition, it will cost 18 per book printed. 3 a. We use the model for the newsvendor problem here. What are the values for c,h,p ? b. How many copies of the textbook should be printed? Justify your answer. (Keep in mind that the answer is either 3000,4000,5000, or 6000 .) c. Would the answer change if we assume 2,000 copies are already in stock from last year? d. Assume that the revision of the textbook is postponed by a year. The same edition will be used for one more year, in 2024. Hence the remaining copies at the end of 2023can be sold in 2024 at full price, with 38 revenue per copy. Copies left by the end of 2024 can be then sold at L5. The estimated sales will follow the same distribution in 2024 as in 2023, given in the table above; the demand in 2024 will be independent from that in 2023. In light of the high costs of running the printing machine, the publisher decides to print all copies for the two years now. The cost of printing is as above, and there is currently no stock. How many copies of the textbook should be printed? (Keep in mind that the number of books to print must be a multiple of 1000 .)