--%>
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 : Competitive equilibrium 8. Halloween is

    8. Halloween is an old American tradition. Kids go out dressed in costume and neighbors give them candy when they come to the door. Spike and Cinderella are brother and sister. After a long night collecting candy, they sit down as examine what they have. Spike fi

    		•
  • Q : Abstract Boolean Algebra I. Boolean

    I. Boolean Algebra Define an abstract Boolean Algebra, B,  as follows:  The three operations are:  +   ( x + y addition) ( x y multiplic

    		•
  • Q : Problem on sales and budget XYZ Farm

    XYZ Farm Supply data regarding the store's operations follow: • Sales are budgeted at $480,000 for November, $430,000 for December, and $340,000 for January. • Collections are expected

    		•
  • 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

    		•
  • Q : Define Well-formed formulas or Wffs

    Wffs (Well-formed formulas): These are defined inductively by the following clauses:    (i) If  P  is an n-ary predicate and  t1, …, tn are terms, then P(t1, …, t

    		•
  • Q : State Fermat algorithm The basic Fermat

    The basic Fermat algorithm is as follows: Assume that n is an odd positive integer. Set c = [√n] (`ceiling of √n '). Then we consider in turn the numbers c2 - n; (c+1)2 - n; (c+2)2 - n..... until a perfect square is found. If th

    		•
  • Q : Explain Factorisation by Fermats method

    Factorisation by Fermat's method: This method, dating from 1643, depends on a simple and standard algebraic identity. Fermat's observation is that if we wish to nd two factors of n, it is enough if we can express n as the di fference of two squares.

    		•
  • Q : Elasticity of Demand For the demand

    For the demand function D(p)=410-0.2p(^2), find the maximum revenue.

    		•
  • Q : Linear programming model of a Cabinet

    A cabinet company produces cabinets used in mobile and motor homes. Cabinets produced for motor homes are smaller and made from less expensive materials than those for mobile homes. The home office in Dayton Ohio has just distributed to its individual manufacturing ce

    		•
  • Q : Global And Regional Economic Development

    The Pharmatec Group, a supplier of pharmaceutical equipment, systems and services, has its head office in London and primary production facilities in the US. The company also has a successful subsidiary in South Africa, which was established in 1990. Pharmatec South A

    		•