Reference no: EM132115286
CPG Bagels starts the day with a large production run of bagels. Throughout the morning additional bagels are produced as needed. The last bake is completed at 3 pm, and the store closes at 8 pm. It costs approximately $0.50 in materials and labor to make a bagel. The price of a fresh bagel is $1.25. Bagels not sold by the end of the previous day are sold the next day as “day-old” bagels for $0.25 each. The store manager predicts that demand for the bagels from 3 pm until closing is normally distributed with mean 54 and standard deviation 11.
A) Model inputs
Purchasing cost of a bagel c =$_____ /bagel;
Selling price of a bagel p =$ _____/bagel;
Salvage value of a bagel s =$_____ /bagel;
Mean daily demand μ =______ bagels;
Standard deviation of daily demand σ =______ bagels.
b) The overage cost c_o =$ _____/bagel
The underage cost c_u =$_____ /bagel.
Please show detailed analysis below:
c) The critical ratio =_______
CPG Bagels expects that______ % of their customers would experience lost-sales.
Please show detailed analysis below:
d) The newsvendor order quantity Q* =______ bagels.
Please show detailed analysis below (round UP your answer to the nearest integer)
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