Maurice Tutor

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 407 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 05 Jun 2017 My Price 11.00

The University of Dallas bookstore stocks

The University of Dallas bookstore stocks textbooks in preparation for sales each semester. It normally relies on departmen­tal forecasts and preregistration records to determine how many copies of a text are needed. Preregistration shows 90 operations man­agement students enrolled, but bookstore manager Curtis Ketterman has second thoughts, based on his intuition and some historical evi­dence. Curtis believes that the distribution of sales may range from 70 to 90 units, according to the following probability model:

Demand

70

75

80

85

90

Probability

.15

.30

30

.20

.05

This textbook costs the bookstore $82 and sells for $112. Any unsold copies can be returned to the publisher, less a restocking fee and shipping, for a net refund of $36.

a) Construct the table of conditional profits.

b) How many copies should the bookstore stock to achieve highest expected value?

Answers

Maurice Tutor
(5)
Status NEW Posted 05 Jun 2017 11:06 PM My Price 11.00

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