What is the probability to sell all ordered units, Operation Management

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What is the probability to sell all ordered units

The Gilbert Air-Conditioning Company is considering the purchase of a special shipment of portable air conditioners manufactured in Japan. Each unit will cost Gilbert $80, and it will be sold for $125. Gilbert does not want to carry surplus air conditioners over until the following year. Thus, all surplus air conditioners will be sold to a wholesaler for $50 per unit. Assume that the air conditioner demand follows a normal probability distribution with mean 20 units and standard deviation 8 units.

(a) What is the recommended order quantity?
(b) What is the probability that Gilbert will sell all units it orders?

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Operation Management: What is the probability to sell all ordered units

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Operation Management: What is the probability to sell all ordered units

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Operation Management: What is the probability to sell all ordered units

Reference No:- TGS092805

Recent Questions Asked Operation Management

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