Find the optimal number of papers to order
A newspaper stand purchases newspapers for $0.36 and sells them for $0.5. Each unsold newspaper has salvage value of $0.1. Assume the demand follows the uniform distribution between 200 and 300. Find the optimal number of papers to order.
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Each unsold newspaper has salvage value of $0.1. Assume the demand follows the uniform distribution between 200 and 300. Find the optimal number of papers to order.
Use Excel and develop a distribution plan that minimizes total shipping cost. If route 3-A is a unacceptable for some reason, what distribution plan would be optimal? What would its total cost be?
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