How many pounds should she order each day

Assignment Help Operation Management

Reference no: EM132169521

Single Period Model

Cynthia Knott’s oyster bar buys fresh Louisiana oysters for $5 per pound and sells them for $9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $2 per pound. Cynthia believes that demand follows the normal distribution with a mean of 100 pounds and a standard deviation of 15 pound. How many pounds should she order each day?

Reference no: EM132169521

Questions Cloud

Entered into negotiations with sam to purchase sam home : Harold and Maude entered into negotiations with Sam to purchase Sam’s home.

When would you choose arbitration as preferred method : A lot of you are in favor of conciliation as the preferred method of conflict resolution...when would you choose arbitration as the preferred method?

Was there consultation with regard to strategies : Was there agreement on goals and objectives? Was there consultation with regard to strategies? Is there a strong sales team leadership function?

What is the average setup cost per year : What is the optimal size of production run? What is the average setup cost per year?

How many pounds should she order each day : Cynthia Knott’s oyster bar buys fresh Louisiana oysters for $5 per pound and sells them for $9 per pound. How many pounds should she order each day?

Put into place to ensure internal audit verification : What measurements can be put into place to ensure internal audit verification, validation and testing is done the imperial way?

Supply chain performance-what is the inventory turnover : Supply Chain Performance. What is the inventory turnover? How many weeks of supply does the firm hold?

Insurance company chain with central inventory operations : Thomas is the purchasing manager for the headquarters of a large insurance company chain with central inventory operations.

The proposal that strategic management of skilled : Human Capital Management (HCM) goes beyond the proposal that strategic management of skilled

User Account

All Pages