Find the service level and the optimal order quantity

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A retailer buys newspaper from a publisher for $0.80 per copy and sells it for $1.5 per copy. Unsold copies are sold to a recycler for $0.50 per copy. Assume the demand for newspaper in the neighborhood is normally distributed with mean of 150 and std. dev. of 10. Find:

a) Service level

b) The optimal order quantity

Reference no: EM131439681

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