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Purchase of a special shipment of portable air conditioners

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The Gilber Air Conditioning Company is considering purchase of a special shipment of portable air conditioners from Japan. Each unit will cost Gilbert $80 and be sold for $125. Gilbert does not want to carry over surplus air conditioners to the following year. Thus, all surplus units will be sold to a wholesaler who has agreed to take them for $50 per unit. Given the probability distribution for air conditioners shown below, recommend order quantity and the expected profit using critical fractile approach:

Demand

Estimated Probability

0

0.30

1

0.35

2

0.20

3

0.10

4

0.05

Reference no: EM131427836

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