The University of Miami bookstore stocks textbooks in preparation for sales each semester. It normally relies on departmental forecasts and preregistration records to determine how many copies of a text are needed. Preregistration shows 90operations management students enrolled, but bookstore manager Vaidy Jayaraman has second thoughts, based on his intuition and some historical evidence. Vaidy believes that the distribution of sales may range from 70 to 90 units, accordingto the following probability model:Demand7075808590Probability0.100.200.200.100.40This textbook costs the bookstore $82 and sells for $112. Any unsold copies can be returned to the publisher, less a restocking fee and shipping, for a net refund of $40.a) Based on the given information, Vaidy's conditional profits table for the bookstore is:Demand7075808590Stockp=0.10p = 0.20p = 0.20p=0.10p = 0.4070

Given: Sales price = $112 Cost price = $82

he University of Miami bookstore stocks textbooks in preparation for sales each semester. It normally relies on departmental forecasts and preregistration records to determine how many copies of a text perations management students enrolled, but bookstore manager Vaidy Jayaraman has second thoughts, based on his intuition and some historical evidence. Vaidy believes that the distribution e o the following probability model: sales m Demand 70 75 80 85 90 Probability 0.10 0.20 0.20 0.10 0.40 his textbook costs the bookstore $82 and sells for $112. Any unsold copies can be returned to the publisher, less a restocking fee and shipping, for a net refund of $40. )Based on the given information, Vaidy's conditional profits table for the bookstore is: Demand 70 75 80 85 90 Stock p=0.10 p=0.20 p=0.20 p=0.10 p=0.40 70

he University of Miami bookstore stocks textbooks in preparation for sales each semester. It normally relies on departmental forecasts and preregistration records to determine how many copies of a text perations management students enrolled, but bookstore manager Vaidy Jayaraman has second thoughts, based on his intuition and some historical evidence. Vaidy believes that the distribution e o the following probability model: sales m Demand 70 75 80 85 90 Probability 0.10 0.20 0.20 0.10 0.40 his textbook costs the bookstore $82 and sells for $112. Any unsold copies can be returned to the publisher, less a restocking fee and shipping, for a net refund of $40. )Based on the given information, Vaidy's conditional profits table for the bookstore is: Demand 70 75 80 85 90 Stock p=0.10 p=0.20 p=0.20 p=0.10 p=0.40 70

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

See similar textbooks