I WILL REWARD ASAP PLEASE SHOW ALL WORK Problem 3C Leonard\'s newsstand uses Nai
ID: 455076 • Letter: I
Question
I WILL REWARD ASAP
PLEASE SHOW ALL WORK Problem 3C Leonard's newsstand uses Naive forecasting to order tomorrows papers. A newspaper cost $0.30 and is sold for $0.65. It is estimated that a goodwill cost of $0.05 occurs when a customer attempts to purchase a newspaper that is not in stock Complete the tables below to determine Leonard's business performance over the six-day period. On the the first day Leonard orders 250 papers. To simulate demand use the random numbers from Table F.4 in class text, (Use the first 6 random numbers from column 8 beginning with random # 47) (30 points) Demand 150 225 300 375 450 Probability Cum Probability RN Interval 0.15 0.20 0.30 0.25 0.10 Demand I Revenue G'will Cost Net Profit Demand Revenue Cost Gwill Cost T Net Profie Cost Papers OrderedRN 250 2 4 5 6 Total Net Profit
Explanation / Answer
Demand Probabilty Cum.Probabilty *100 R.No Int R.No 150 0.15 0.15 15 00-14 3,11,10, 225 0.2 0.35 35 15-34 23 300 0.3 0.65 65 35-64 47, 375 0.25 0.9 90 65-89 67 450 0.1 1 100 90-99 Day Papers Ordered R.No Demand Revenue $0.65 Cost $ 0.30 G.Will Cost $ 0.05 Net Profit 1 250 47 300 162.5 75 2.5 85 2 250 3 150 97.5 75 0 22.5 3 250 11 150 97.5 75 0 22.5 4 250 10 150 97.5 75 0 22.5 5 250 67 375 162.5 75 6.25 81.25 6 250 23 225 146.25 75 0 71.25
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