{"id":7532,"date":"2021-10-13T09:21:49","date_gmt":"2021-10-13T09:21:49","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/the-demand-for-a-product-of-carolina-industries-varies-greatly-from\/"},"modified":"2021-10-13T09:21:49","modified_gmt":"2021-10-13T09:21:49","slug":"the-demand-for-a-product-of-carolina-industries-varies-greatly-from","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/the-demand-for-a-product-of-carolina-industries-varies-greatly-from\/","title":{"rendered":"The demand for a product of carolina industries varies greatly from"},"content":{"rendered":"<div>\n<p>\u00a0\u00a0\u00a0\u00a0\u00a0The demand for a \u00a0\u00a0product of Carolina Industries varies greatly from month to month. Based on \u00a0\u00a0the past 2 years of data, the following probability distribution shows the \u00a0\u00a0company&#8217;s monthly demand. \u00a0\u00a0\u00a0\u00a0\u00a0Unit Demand Probability \u00a0\u00a0300 0.20 \u00a0\u00a0400 0.30 \u00a0\u00a0500 0.35 \u00a0\u00a0600 0.15 \u00a0\u00a0A) If the company places monthly orders \u00a0\u00a0equal to the expected value of the monthly \u00a0\u00a0demand, what should Carolina&#8217;s monthly \u00a0\u00a0order quantity be for this product? \u00a0\u00a0B) Assume that each unit demanded \u00a0\u00a0generates $70 dollars in revenue and that each unit \u00a0\u00a0ordered costs $50 dollars. How much will \u00a0\u00a0the company gain or loss in a month if it \u00a0\u00a0\u00a0places an order based on your answer to \u00a0\u00a0part a and the actual demand for the item is \u00a0\u00a0300 units? \u00a0\u00a0C) What are the variance and the standard \u00a0\u00a0deviation for the number of units demanded? \u00a0\u00a0\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0\u00a0The demand for a \u00a0\u00a0product of Carolina Industries varies greatly from month to month. Based on \u00a0\u00a0the past 2 years of data, the following probability distribution shows the \u00a0\u00a0company&#8217;s monthly demand. \u00a0\u00a0\u00a0\u00a0\u00a0Unit Demand Probability \u00a0\u00a0300 0.20 \u00a0\u00a0400 0.30 \u00a0\u00a0500 0.35 \u00a0\u00a0600 0.15 \u00a0\u00a0A) If the company places monthly orders \u00a0\u00a0equal to the expected value of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-7532","post","type-post","status-publish","format-standard","hentry","category-homework-help"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=7532"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7532\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=7532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=7532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=7532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}