is selling Christmas trees. She purchases trees for $10 and sells for $25 each. The number of trees she can sell is normally distributed with a mean of 100 and standard deviation of 30. How many trees should purchase?
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- When priced at $10, Jasmine sells five packages of her home-made Mediterranean flat-bread per day. When she raised her price to $15, she still sold five packages per day. Based on this information, the demand for her flat-bread is A) price inelastic. B) perfectly price inelastic. C) unit price elastic. D) perfectly price elasticJane Nursery grows pink and peach roses in her 100 by100 foot garden. She then sells it at the local farmers'market. Two month ago, she was able to produce andsell 12,000 buds of roses. Last month, she tried a newfertilizer that promised a 50% increase in yield. Sheharvested 1,980 buds of roses. Did the fertilizer live up toits promise?Please do not give solution in image format thanku Flag Sport Obermeyer (SO) is a manufacturer of ski apparel. A ski jacket is sourced at a cost of $80 and sold for $125. One order is placed at the beginning of the season. Currently, SO disposes of any unsold jackets at the end of the season to outlet stores at $70. It costs $10 to hold a jacket in inventory for the entire season and then ship it to an outlet store. Demand for ski jackets has been forecast to be normally distributed, with a mean of 4,000 and standard deviation of 1,750. What is the expected overstock at the end of the season that will be sent to outlet stores?
- Please do not give solution in image formate thanku. Inventory of ski jackets: A clothing company sells ski jacket every winter but must decide in the summer how many jackets to produce. Each jacket costs $65 to produce and ship, and sells for $129 at retail stores. Customers who wish the buy this jacket but find it out of stock will buy a competitors jacket; in addition to the lost revenue, the company also incurs a loss-of-goodwill cost o $15 for each lost sale. At the end of the winter, unsold jackets are sold to a discount clothing store for $22 each. (a) First suppose that demand for the ski jackets this winter will be distributed as a normal random variable with mean 900 and standard deviation 60. What is the optimal number of jackets to produce? (b) Now suppose that the demand is distributed as a Poisson random variables with mean 900. What is the optimal number of jackets to produce?Among the following multi-period inventory models, which one has the highest probability of stockout? A. Fixed Order Quantity with Safety Stock B. Fixed Time Period Model C. Fixed Order Quantity D. Both Fixed Order Quantity & Fixed Order Quantity with Safety StockPlease provide STEP BY STEP instructions using the SINGLE PERIOD MODEL. Cynthia Knott’s oyster bar buys fresh Louisiana oysters for $5 per pound and sells them for $9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $2 per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 15 pounds. How many pounds should she order each day?
- A firm is faced with the attractive situation in which it canobtain immediate delivery of an item it stocks for retailsale. The firm has therefore not bothered to order the item in any systematic way. However, recently profits have beensqueezed due to increasing competitive pressures, and thefirm has retained a management consultant to study itsinventory management. The consultant has determined thatthe various costs associated with making an order for theitem stocked are approximately $70 per order. She has alsodetermined that the costs of carrying the item in inventoryamount to approximately $27 per unit per year (primarilydirect storage costs and forgone profit on investment ininventory). Demand for the item is reasonably constantover time, and the forecast is for 16,500 units per year.When an order is placed for the item, the entire order isimmediately delivered to the firm by the supplier. The firm operates 6 days a week plus a few Sundays, or approxi-mately 320 days per year.…Please do not give solution in image formate thanku. You are starting a Christmas tree business. You can purchase trees from local farmers at $25 per tree. You are able to sell the trees at $75 per tree. Any leftover trees can be sold to the local wood chip company at $5 per tree. Assume that the demand follows a uniform distribution ∼U(96,380). How many trees should you stock through the holiday season?A firm is faced with the attractive situation in which it can obtain immediate delivery of an itemit stocks for retail sale. The firm has therefore not bothered to order the item in any systematicway. Recently, however, profits have been squeezed due to increasing competitive pressures, andthe firm has retained a management consultant to study its inventory management. The consultanthas determined that the various costs associated with making an order for the item stockedare approximately $30 per order. She has also determined that the costs of carrying the item ininventory amount to approximately $20 per unit per year (primarily direct storage costs and foregoneprofit on investment in inventory). Demand for the item is reasonably constant over time and the forecast is for 19,200 units per year. When an order is placed for the item, the entire orderis immediately delivered to the firm by the supplier. The firm operates 6 days a week plus afew Sundays, or approximately 320 days per…
- A firm is faced with the attractive situation in which it can obtain immediate delivery of an itemit stocks for retail sale. The firm has therefore not bothered to order the item in any systematicway. Recently, however, profits have been squeezed due to increasing competitive pressures, andthe firm has retained a management consultant to study its inventory management. The consultanthas determined that the various costs associated with making an order for the item stockedare approximately $30 per order. She has also determined that the costs of carrying the item ininventory amount to approximately $20 per unit per year (primarily direct storage costs and foregoneprofit on investment in inventory). Demand for the item is reasonably constant over time and the forecast is for 19,200 units per year. When an order is placed for the item, the entire orderis immediately delivered to the firm by the supplier. The firm operates 6 days a week plus afew Sundays, or approximately 320 days per…A firm is faced with the attractive situation in which it can obtain immediate delivery of an itemit stocks for retail sale. The firm has therefore not bothered to order the item in any systematicway. Recently, however, profits have been squeezed due to increasing competitive pressures, andthe firm has retained a management consultant to study its inventory management. The consultanthas determined that the various costs associated with making an order for the item stockedare approximately $30 per order. She has also determined that the costs of carrying the item ininventory amount to approximately $20 per unit per year (primarily direct storage costs and foregoneprofit on investment in inventory). Demand for the item is reasonably constant over time and the forecast is for 19,200 units per year. When an order is placed for the item, the entire orderis immediately delivered to the firm by the supplier. The firm operates 6 days a week plus afew Sundays, or approximately 320 days per…A firm is faced with the attractive situation in which it can obtain immediate delivery of an itemit stocks for retail sale. The firm has therefore not bothered to order the item in any systematicway. Recently, however, profits have been squeezed due to increasing competitive pressures, andthe firm has retained a management consultant to study its inventory management. The consultanthas determined that the various costs associated with making an order for the item stockedare approximately $30 per order. She has also determined that the costs of carrying the item ininventory amount to approximately $20 per unit per year (primarily direct storage costs and foregoneprofit on investment in inventory). Demand for the item is reasonably constant over time and the forecast is for 19,200 units per year. When an order is placed for the item, the entire orderis immediately delivered to the firm by the supplier. The firm operates 6 days a week plus afew Sundays, or approximately 320 days per…