Cynthia Knott's oyster bar buys fresh Louisiana oysters for $3 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 20 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order pounds of oysters each day (round your response to one decimal place).

Cynthia Knott's oyster bar buys fresh Louisiana oysters for $3 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 20 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order pounds of oysters each day (round your response to one decimal place).

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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Please 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?
13 Pam’s demand for hats is normally distributed with mean 500 and standard deviation 100. She sells her hats for $50 each and buys hats for $10 each, and anything she can't sell by the end of the year, the wholesaler will buy for $5 each. How many hats should she order for next year to maximize profit?
Gyona purchases meat from the local supermarket at $5 per kilo and sell it at $9 per kilo. any unsold meat is sold to the Chinese restaurant near by at $2 per kilo. Gyona is sure that the demand follows a normal distribution with a mean of 100 kilograms and a standard deviation of 15 kilograms. - How many kilograms should she order each day?
Cynthia Knott's oyster bar buys fresh Louisiana oysters for $4 per pound and sells them for $10 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $3 per pound. Cynthia believes that demand follows the normal distribution, with a mean of 120 pounds and a standard deviation of 15 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order pounds of oysters each day (round your response to one decimal place).
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Cynthia Knott's oyster bar buys fresh Louisiana oysters for $4per 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 $2per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 12 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order enter your response here pounds of oysters each day (round your response to one decimal place).
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That One Book sells its books through The Witch and the Wardrobe bookstores. It costs That One Book $0.80 to print each book; it sells the book to The Witch and the Wardrobe for $2.50. The Witch and the Wardrobe then sells the books at retail for $6.00. Whatever doesn’t sell gets thrown away. Demand for the book each issue is normal with a mean of 5219 and a standard deviation of 1610. To give The Witch and the Wardrobe incentive to order more books, it proposes a revenue-sharing contract. Instead of selling the book to The Witch and the Wardrobe for $2.50, That One Book will sell its books to The Witch and the Wardrobe for only $1.00. However, for each book that The Witch and the Wardrobe sells at retail, The Witch and the Wardrobe must give $2.00 back to That One Book. With this revenue sharing agreement in place, what is the optimal order amount that will maximize The Witch and the Wardrobe expected profit? Please do fast ASAP