Answer questions 5 & 6 based on the following information. A weekly sports magazine publishes a special edition for the World Series. The sales forecast is for the number of copies to be normally distributed with a mean of 800,000 copies and a standard deviation of 60,000 copies. It costs $0.35 to print a copy, and the newsstand price is $1.95. Unsold copies will be scrapped. Your job is to calculate the number of copies that should be printed. First, calculate P(demand
Answer questions 5 & 6 based on the following information. A weekly sports magazine publishes a special edition for the World Series. The sales forecast is for the number of copies to be normally distributed with a mean of 800,000 copies and a standard deviation of 60,000 copies. It costs $0.35 to print a copy, and the newsstand price is $1.95. Unsold copies will be scrapped. Your job is to calculate the number of copies that should be printed. First, calculate P(demand
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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Transcribed Image Text:Answer questions 5 & 6 based on the following information.
A weekly sports magazine publishes a special edition for the World Series. The sales forecast is
for the number of copies to be normally distributed with a mean of 800,000 copies and a
standard deviation of 60,000 copies. It costs $0.35 to print a copy, and the newsstand price is
$1.95. Unsold copies will be scrapped. Your job is to calculate the number of copies that should
be printed.
First, calculate P(demand <Q*). Round your answer to four decimals.
Question 6
How many copies should be printed? Q*=?
Please round your answer to the nearest integer.
3 pts
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