--%>
Assignment Help - homework help

profit-loss based problems

A leather wholesaler supplies leather to shoe companies. The manufacturing quantity requirements of leather differ depending upon the amount of leather ordered by the shoe companies to him. Due to the volatility in orders, he is unable to precisely predict what will be the demand from the shoe companies to him in the coming months. Below is the data he has collected from his monthly order books in the last 3 years:

Quantity of Leather ordered         No. of times this quantity

by shoe companies                      (in kg) was ordered

1200                                                3

1800                                               12

2400                                             10

3000                                              4

3600                                              7

(a) Given the above past data, how much stock should he be prepared to keep available for the next month?

(b) Assume that 1 kg of leather costs him Rs.150/- and he sells it to the shoemakers for a price of Rs.175/-. Also for any excess leather stock in a month that remains, he disposes them off by selling to smaller shops for a price of Rs.140/-. If the demand in the next month turns out to be 1800 kg, what would be his profit/loss?

   Related Questions in Mathematics

  • Q : Problem on Linear equations Anny, Betti

    Anny, Betti and Karol went to their local produce store to bpought some fruit. Anny bought 1 pound of apples and 2 pounds of bananas and paid $2.11.  Betti bought 2 pounds of apples and 1 pound of grapes and paid $4.06.  Karol bought 1 pound of bananas and 2

    		•
  • Q : Who had find Monte Carlo and finite

    Who had find Monte Carlo and finite differences of the binomial model?

    		•
  • Q : The mean of the sampling distribution

    1. Caterer determines that 87% of people who sampled the food thought it was delicious. A random sample of 144 out of population of 5000 taken. The 144 are asked to sample the food. If P-hat is the proportion saying that the food is delicious, what is the mean of the sampling distribution p-hat?<

    		•
  • Q : Problem on mass balance law Using the

    Using the mass balance law approach, write down a set of word equations to model the transport of lead concentration. A) Draw a compartmental model to represent  the diffusion of lead through the lungs and the bloodstream.

    		•
  • Q : Formulating linear program of a

    A software company has a new product specifically designed for the lumber industry. The VP of marketing has been given a budget of $1,35,00to market the product over the quarter. She has decided that $35,000 of the budget will be spent promoting the product at the nat

    		•
  • Q : Who independently developed

    Who independently developed a model for simply pricing risky assets?

    		•
  • Q : Breakfast program if the average is

    if the average is 0.27 and we have $500 how much break fastest will we serve by 2 weeks

    		•
  • Q : Explain lognormal stochastic

    Explain lognormal stochastic differential equation for evolution of an asset.

    		•
  • Q : Statistics Caterer determines that 37%

    Caterer determines that 37% of people who sampled the food thought it was delicious. A random sample of 144 out of population of 5000. The 144 are asked to sample the food. If P-hat is the proportion saying that the food is delicious, what is the mean of the sampling distribution p-hat?

    		•
  • Q : Uniform scaling what is uniform scaling

    what is uniform scaling in computer graphic

    		•