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x SnowBirds is trying to decide on how many snowboards to purchase at the start of the upcoming selling season. A snowboard has a retail
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SnowBirds is trying to decide on how many snowboards to purchase at the start of the upcoming selling season. A snowboard has a retail price of $200.00. The manufacturer sells a snowboard to SnowBirds for $100.00. Sno wBirds will sell of all of the unsold snowboards for $50 at the end of the selling season. SnowBirds estimates that demand for the snowboards during the season is normally distributed with a mean of 2,000 and a standard deviation of 300 . Suppose SnowBirds wants to maximize expected profits from the sale of the snowboard. - What is the critical ratio Snowbirds would want to meet? (report your answer to 3 decimal places) - How many snowboards should they order from the manufacturer? (report your answer as an integer) Suppose SnowBirds orders 2,400 snowboards. -What are the expected lost sales? (report your answer to 2 decimal places) -What are the expected sales? (report your answer to 2 decimal places) - What is the expected leftover inventory? (report your answer to 2 decimal places) - What is the expected profit? (report your answer to 2 decimal places) -What are the expected lost sales? (report your answer to 2 decimal places) -What are the expected sales? (report your answer to 2 decimal places) - How many of these snowboards can SnowBirds expect to sell at the discount price. (report your answer to 2 decimal places) How many snowboards should they order if they want to minimize their inventory while ensuring that the stockout probability is no greater than 3% ? (report your answer as an integer) Step by Step Solution
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