--%>
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 : Mathematical and Theoretical Biology

    Mathematical and theoretical biology is an interdisciplinary scientific research field with a range of applications in the fields of biology, biotechnology, and medicine. The field may be referred to as mathematical biology or biomathematics to stress the mathematical

    		•
  • Q : Explain a rigorous theory for Brownian

    Explain a rigorous theory for Brownian motion developed by Wiener Norbert.

    		•
  • Q : Who independently developed

    Who independently developed a model for simply pricing risky assets?

    		•
  • Q : Pig Game Using the PairOfDice class

    Using the PairOfDice class design and implement a class to play a game called Pig. In this game the user competes against the computer. On each turn the player rolls a pair of dice and adds up his or her points. Whoever reaches 100 points first, wins. If a player rolls a 1, he or she loses all point

    		•
  • Q : Problem on reduced row-echelon The

    The augmented matrix from a system of linear equations has the following reduced row-echelon form. 280_row echelon method.jpg

    		•
  • Q : What is limit x tends to 0 log(1+x)/x

    What is limit x tends to 0  log(1+x)/x to the base a?

  • Q : Research Areas in Medical Mathematical

    Some Research Areas in Medical Mathematical Modelling:1. Modeling and numerical simulations of the nanometric aerosols in the lower portion of the bronchial tree. 2. Multiscale mathematical modeling of

    		•
  • Q : Ordinary Differential Equation or ODE

    What is an Ordinary Differential Equation (ODE)?

    		•
  • 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 : Formal logic It's a problem set, they

    It's a problem set, they are attached. it's related to Sider's book which is "Logic to philosophy" I attached the book too. I need it on feb22 but feb23 still work

    		•