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A retailer planning to sell jackets during winter faces the following probability distribution of demand for jackets: x Probability(D=x) Probability(D<=x) 51 8% 8% 52 9% 53 10% 54 11% 55 12% 12% 11% 10% 9% 8% 85849 56 57 60 The retailer buys each jacket for $400 and sells it for $600. The retailer sells any leftover jacket in the spring sale at $300. Suppose the supplier offers to buy any leftover jackets for $375. so the retailer decides to sell any leftover jackets to the supplier (instead of the spring sale). What is optimal service level retailer would target and what is the optimal order quantity of jackets? 95% and 60 66.7% and 57 18% 28% 38% 50% 62% 72% 82% 92% 100% 88.9% and 59 80% and 58

A retailer planning to sell jackets during winter faces the following probability distribution of demand for jackets: x Probability(D=x) Probability(D<=x) 51 8% 8% 52 9% 53 10% 54 11% 55 12% 12% 11% 10% 9% 8% 85849 56 57 60 The retailer buys each jacket for $400 and sells it for $600. The retailer sells any leftover jacket in the spring sale at $300. Suppose the supplier offers to buy any leftover jackets for $375. so the retailer decides to sell any leftover jackets to the supplier (instead of the spring sale). What is optimal service level retailer would target and what is the optimal order quantity of jackets? 95% and 60 66.7% and 57 18% 28% 38% 50% 62% 72% 82% 92% 100% 88.9% and 59 80% and 58

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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A retailer planning to sell jackets during winter faces the following probability distribution of demand for jackets: x Probability(D=x) Probability(D<=x) 51 8% 8% 52 9% 18% 53 10% 28% 54 11% 38% 55 12% 50% 56 12% 62% 57 11% 72% 58 10% 82% 59 9% 92% 60 8% 100% The retailer buys each jacket for $400 and sells it for $600. The retailer sells any leftover jacket in the spring sale at $300. Suppose the supplier offers to buy any leftover jackets for $375. so the retailer decides to sell any leftover jackets to the supplier (instead of the spring sale). What is optimal service level retailer would target and what is the optimal order quantity of jackets? 95% and 60 66.7% and 57 88.9% and 59 80% and 58
Transcribed Image Text:A retailer planning to sell jackets during winter faces the following probability distribution of demand for jackets: x Probability(D=x) Probability(D<=x) 51 8% 8% 52 9% 18% 53 10% 28% 54 11% 38% 55 12% 50% 56 12% 62% 57 11% 72% 58 10% 82% 59 9% 92% 60 8% 100% The retailer buys each jacket for $400 and sells it for $600. The retailer sells any leftover jacket in the spring sale at $300. Suppose the supplier offers to buy any leftover jackets for $375. so the retailer decides to sell any leftover jackets to the supplier (instead of the spring sale). What is optimal service level retailer would target and what is the optimal order quantity of jackets? 95% and 60 66.7% and 57 88.9% and 59 80% and 58
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