A retailer sells a perishable commodity and each day he places an order for Q units....

A retailer sells a perishable commodity and each day he places an order for Q units. Each unit that is sold gives a profit of 60 cents and units not sold at the end of the day are discarded at a loss of 40 cents per unit. The demand, D, on any given day is uniformly distributed over [80,140]. How many units should the retailer order to maximize expected profit? Solve using MATLAB

Expert Solution

orchestra answered 1 year ago

Diversified Inc. is a retailer that sells a variety of goods under three major business units....

Diversified Inc. is a retailer that sells a variety of goods under three major business units. Its Home Appliances Division manufactures and sells home kitchen appliances such as refrigerators, microwave ovens and dishwashers.During his annual review of the company’s financial condition, Diversified’s president notes that the company’s inventory included a material reduction described as an allowance to reduce inventory to market. While the Home Appliances Division had received a considerable amount of negative publicity related to fires caused by defective...

If the producer of a commodity spends x thousand dollars on advertising, then Q(x)=43-10e^(-1/2x) thousand units...

If the producer of a commodity spends x thousand dollars on advertising, then Q(x)=43-10e^(-1/2x) thousand units of the commodity will be sold. (a) How many units will be sold if no money is spent on advertising? How many units will be sold if 5,000 dollars are spent on advertising? (b) How much should be spent on advertising to sell 40,000 units? (c) Compute the limit limx→∞ Q(x). What does this limit mean in the given context of the problem? Please...

8. In Kingston there are 45 identical pizza places each having the cost function c(q) =...

8. In Kingston there are 45 identical pizza places each having the cost function c(q) = 0.5q2 + 4q + 162. The market demand equation is Qd = 820 – 5P • Find a firm’s individual supply curve and the market supply curve. • Calculate the market equilibrium price and quantity. • Calculate the individual firm’s output and profit.

David can sell 200 printers per day if he charges $70 each. He determines that he...

David can sell 200 printers per day if he charges $70 each. He determines that he will sell an additional 50 printers per day for each $10 reduction in price. a. Find a linear demand function, p in terms of x. b. Find the revenue function. c. How much should he charge for his printers to maximize his revenue? d. What would be David’s maximum revenue? e. Suppose David has a fixed cost of $1000 and a marginal cost of...

Note: Each bound should be rounded to three decimal places. Q: A random sample of n=100...

Note: Each bound should be rounded to three decimal places. Q: A random sample of n=100 observations produced a mean of x⎯⎯⎯=35 with a standard deviation of s=5. (a) Find a 95% confidence interval for μ Lower-bound: Upper-bound: (b) Find a 90% confidence interval for μ Lower-bound: Upper-bound: (c) Find a 99% confidence interval for μ Lower-bound: Upper-bound:

1. Order: Heparin 7500 units subcutaneously twice a day. Supply: Heparin 20,000 units/mL. Question: How many...

1. Order: Heparin 7500 units subcutaneously twice a day. Supply: Heparin 20,000 units/mL. Question: How many milliliters of heparin should be given with each dose? (Round to the nearest hundredth.) 2. Order: Give 500 mL of dextran 40 over 24 hours. Question: How many milliliters per hour should the IV infusion device be set for? (Round to the nearest whole number.) 3.The physician orders enoxaparin (Lovenox) 30 mg subcutaneously twice daily for 7 to 10 days for prevention of DVT...

A pie company bakes 300 pies each day at a cost of $2 each and sells...

A pie company bakes 300 pies each day at a cost of $2 each and sells each for $3; unsold pies are thrown out at the end of the day. 60% of the days company sells 150 pies 25% of the days company sells 250 pies 15% of the days company sells 300 pies Find the probability distribution for daily profit. Also, find expected profit.

1. Consider the basic EOQ model (no uncertainty). Optimal order quantity (Q ∗) is 1,800 units....

1. Consider the basic EOQ model (no uncertainty). Optimal order quantity (Q ∗) is 1,800 units. What is the average inventory level (I ∗)? a. 900 units b. 1,800 units c. 600 units d. 1,000 units e. 3,600 units 2. Consider the basic EOQ model (no uncertainty). Annual holding cost (AHC) is $2,400. Find annual ordering cost (AOC). a. Cannot be answered because there is missing information b. AOC=$0, since there is no uncertainty c. $1,200, since AOC=AHC/2 at economic...

Exercise 5: Day Old Bread A bakery sells loaves of bread for £1.49 each. Day old...

Exercise 5: Day Old Bread A bakery sells loaves of bread for £1.49 each. Day old bread is discounted by 60 percent. Write a program that begins by reading the number of loaves of day old bread being purchased from the user. Then your program should display the regular price for the bread, the discount because it is a day old, and the total price. All of the values should be displayed using two decimal places, and the decimal points...

Make an order-of-magnitude approximation for the volume of gasoline consumed by automobiles each day in the

Make an order-of-magnitude approximation for the volume of gasoline consumed by automobiles each day in the United States by estimating the number of vehicles driven each day, the average distance traveled, and a typical fuel economy rating.

Question