Problem 1. A perishable dairy product is ordered daily at a particular supermarket. The product costs $1.19 per unit and sells for $1.65 per unit. If the units are unsold at the end of the day, the supplier takes them back at a rebate of $1 per unit. Assume the daily demand is approximately normally distributed with μ = 150 and σ = 30. Problem 1a. (5 points) What is the recommended daily order quantity for the supermarket? Express your answer in whole units using standard rounding rules. Q* = units Problem 1b. (5 points) What is the probability that the supermarket will sell all the units it orders? Express your answer as a number to 4 decimal places using standard rounding rules. Probability =

Problem 1. A perishable dairy product is ordered daily at a particular supermarket. The product costs $1.19 per unit and sells for $1.65 per unit. If the units are unsold at the end of the day, the supplier takes them back at a rebate of $1 per unit. Assume the daily demand is approximately normally distributed with μ = 150 and σ = 30. Problem 1a. (5 points) What is the recommended daily order quantity for the supermarket? Express your answer in whole units using standard rounding rules. Q* = units Problem 1b. (5 points) What is the probability that the supermarket will sell all the units it orders? Express your answer as a number to 4 decimal places using standard rounding rules. Probability =

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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