Klub produces programs and books for single-weekend events, Ask an Expert

Management Studies

Klub produces programs and books for single-weekend events such as reunions and festivals. Production planning must happen several weeks before the event with no opportunity to re-print, so we have to work with demand forecasts. For an upcoming event, demand is predicted to be normally distributed with parameters:

Demand is Normal

Mu µ 2200

Sigma σ 250

The selling price of a book is $12. The manufacturing cost per unit is $3.

Klub keeps all of the profits from the sale. How many books should Klub produce? What is the corresponding expected profit?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92185640

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