Academic help online

Academic help online
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?

Academic help online

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