A senior buyer for Nike decided to order a men's shoe during a buyers meeting. The shoe will be a part of nike's easter promotion. Upcoming designs are to be released after easter, so the shoes have to be sold during the easter period Nike would like to host a clearance sale, in an attempt to sell all shoes not sold by march 31st. The shoes will be sold retail at $50 per pair and the company makes $15 profit per pair. At the selling price of $21 per pair, all surplus shoes would be expected to be sold during the April sale. The expected demand for the shoes is 700 pairs with a standard deviation of 300 pairs. Given the information above, How much pairs of this shoe should be ordered by the buyer

A senior buyer for Nike decided to order a men's shoe during a buyers meeting. The shoe will be a part of nike's easter promotion. Upcoming designs are to be released after easter, so the shoes have to be sold during the easter period Nike would like to host a clearance sale, in an attempt to sell all shoes not sold by march 31st. The shoes will be sold retail at $50 per pair and the company makes $15 profit per pair. At the selling price of $21 per pair, all surplus shoes would be expected to be sold during the April sale. The expected demand for the shoes is 700 pairs with a standard deviation of 300 pairs. Given the information above, How much pairs of this shoe should be ordered by the buyer

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter2: Fundamental Economic Concepts

Section: Chapter Questions

Problem 7E

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