Find out the optimal stocking level for the aegean sea fish

Assignment Help Operation Management
Reference no: EM13390888

An aegean sea fish market buys swordfish daily for $2.10 per pound and sells it for $3.60 per pound. at the end of each business day any remaining swordfish is sold to a cat food company for $1.20 per pound. Daily demand can be approximated by a normal distribution with a mean of 150 pounds and a standard deviation of 9 pounds.

a) Determine the optimal stocking level for the Aegean sea fish market.

b) if the demand is distributed according to continuous uniform distribution with a mean of 150 pounds and the minimum and the maximum demand values are 130 and 170 pounds respectively, what is the optimal stocking level? Assume that all of the cost values remain the same.

Reference no: EM13390888

Questions Cloud

Through cohort study designs and other evidence-based : write a five to six 5-6 page paper in which you1. through cohort study designs and other evidence-based management
Explain how your selected company manages its portfolio of : 1.discuss the types of real estate holdings your selected company selected company is coca cola has listed on its
Analyze the central manner in which the strategies of each : use the internet or the strayer library to research articles on strategic management of apple inc. and samsung group.
The market prices of sammys stock were as follows january 1 : on january 1 2012 sammy corp. granted an employee an option to purchase 9000 shares of sammys 5 par value common stock
Find out the optimal stocking level for the aegean sea fish : an aegean sea fish market buys swordfish daily for 2.10 per pound and sells it for 3.60 per pound. at the end of each
Assume two firms want to borrow money from the bank for : assume two firms want to borrow money from the bank for period of one year. firm a has excellent credit whereas firm bs
Explain the project scope and project management plan align : 1.describe the project scope and project management plan. align your plan to the overall strategy that you have
Goodwin corp has revenues of 10686085 costs of 8014564 : goodwin corp. has revenues of 10686085 costs of 8014564 interest payments of 412375 and a tax rate of 34 percent. it
Sketch the network diagram by using the aon activity on : the following information is gathered for a project.activityactivity time daysimmediate predecessorsa2-b4ac5ad2be1bf8b

Reviews

Write a Review

Operation Management Questions & Answers

  Fresh ideas to improve our current companies

First Virgin actively seeks business proposals from the public via its Web site. "If you have a fantastic idea for us, then were all ears! Were always on the lookout for fresh ideas to improve our current companies and to create brand new ones."An..

  Conduct an environmental scan or swot analysis

Conduct an environmental scan or SWOT analysis of Azul Linhas Aéreas Brasileiras's current reality and recommend whether the company's current strategy is poised to succeed.

  How employees effectively execute the strategy

Discuss how the employees effectively execute the strategy and how the company can sustain this position over time.

  What would you do in hannas place

What would you do in Hanna's place?

  What are the basic difference between strategic

What are the basic difference between Strategic, Operational and Tactic Planning. How might the three levels compliment one another in an organization?

  What is the percentage difference of productivity

On which contract were the workers more productive? What is the percentage difference of productivity between the two contracts?

  Example of an intuitive approach to decision making

Demonstrate a specific example of Rationality using Decision Trees and demonstrate a specific example of Rationality using either a Payoff Matrix or Multivariate analysis

  Should the organization sell the lease or drill

Four possible outcomes are listed below, together with probabilities also payouts. Should the organization sell the lease or drill. When preparing a claim that is optically scanned, births dates are keyed in with explain how many digits.

  Choose the pitfalls in strategic planning that management

Choose the pitfalls in strategic planning that management in an organization should watch out for, or avoid? Identify at least three pitfalls. Response should be at least 200 words in length.

  Determine the range of annual volume

A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor at $7 each or to produce them in-house. Either of two processes could be used for in-house production;

  Analyze why it is important to address risk

analyze why it is important to address risk through the entire project life cycle. Identify three possible negative results that can occur if an organization fails to address risk in different phases of the project life cycle

  Describe how a budget is created in most organizations

Describe how a budget is created in most organizations. How does a budget help a manager with financial control?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd