Ate Guy sells a particular model of fans, with most of the sales being made in the summer months. Ate Guy makes a one-time purchase of the fans prior to each summer season at a cost of P40 each and sells each fan for P60. Any fans unsold at the end of the summer season are marked down to P29 and sold in a special rainy season sale. Virtually all marked-down fans are sold. The following is the number of sales of fans during the past summers: 30, 50, 30, 60, 10, 40, 30, 30, 20, 40. (a) Estimate the mean and variance of the demand for fans each summer. (b) Assume that the demand for fans each summer follows a normal distribution, with mean and variance given by what you obtained in (a). Determine the optimal number of fans for Ate Guy to buy prior to each summer season.
Ate Guy sells a particular model of fans, with most of the sales being made in the summer months. Ate Guy makes a one-time purchase of the fans prior to each summer season at a cost of P40 each and sells each fan for P60. Any fans unsold at the end of the summer season are marked down to P29 and sold in a special rainy season sale. Virtually all marked-down fans are sold. The following is the number of sales of fans during the past summers: 30, 50, 30, 60, 10, 40, 30, 30, 20, 40. (a) Estimate the mean and variance of the demand for fans each summer. (b) Assume that the demand for fans each summer follows a normal distribution, with mean and variance given by what you obtained in (a). Determine the optimal number of fans for Ate Guy to buy prior to each summer season.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Ate Guy sells a particular model of fans, with most of the sales being made in the
summer months. Ate Guy makes a one-time purchase of the fans prior to each summer
season at a cost of P40 each and sells each fan for P60. Any fans unsold at the end
of the summer season are marked down to P29 and sold in a special rainy season sale.
Virtually all marked-down fans are sold. The following is the number of sales of fans
during the past summers: 30, 50, 30, 60, 10, 40, 30, 30, 20, 40.
(a) Estimate the mean and variance of the demand for fans each summer.
(b) Assume that the demand for fans each summer follows a normal distribution, with
mean and variance given by what you obtained in (a). Determine the optimal
number of fans for Ate Guy to buy prior to each summer season.
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