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You are interested in determining the optimal stock level of designer shoes that you would like to order from the manufacturer based on the estimated
You are interested in determining the optimal stock level of designer shoes that you would like to order from the manufacturer based on the estimated demand, with a mean of 125 and a standard deviation of 5 (normally distributed). The purchasing cost is 120 SAR per pair, while you sell the same at 190 SAR per pair. You plan to sell the stock in 3 months, the remaining stocks that are not sold by the end of 3 months are offered on sale at a price of 105 SAR per pair to dispose the stocks.
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