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Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $ 9 each from its Asian supplier, TeddySports. Unfortunately,
Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $ each from its Asian supplier, TeddySports. Unfortunately, at the time of the order placement, demand is still uncertain: Teddy Bower forecasts that its demand is normally distributed with a mean of and a standard deviation of Teddy Bower sells these parkas at $ each. Unsold parkas have little salvage value; Teddy Bower simply gives them away to a charity and also doesn't collect a tax benefit for the donation Use Table
Note: If a part of the question specifies whether to use Table or to use Excel, then credit for a correct answer will depend on using the specified method.
answer the following please.
a What is the probability this parka turns out to be a "dog", defined as a product that sells less than half of the forecast? Use Excel.
Note: Round your answer to decimal places.
Probability?
b How many parkas should Teddy Bower buy from TeddySports to maximize expected profit? Use Table
Order Quantity?
c If Teddy Bower orders parkas, what is the instock probability? Use Excel.
Note: Round your answer to decimal places.
instock probability?
d If Teddy Bower orders parkas, what is expected leftover inventory? Use Excel.
Note: Round your answer to decimal places.
Expected leftover Inventory?
e If Teddy Bower orders parkas, what is expected sales? Use Excel.
Note: Round your answer to decimal places
Expected Sales?
f If Teddy Bower orders parkas, what is expected profit? Use Excel.
Note: Round your answer to decimal places.
Expected profit?
g How many parkas should Teddy Bower order to ensure a instock probability? how many parkas should Teddy Bower's order? Use Table
order quantity?
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