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Question: Concert Productions is planning an appearance of the top band Iggy Wiggy. They plan to buy custom designed T-shirts to sell at the stadium where the concert will take place. The T-shirt will sell for $25.00 and the cost per shirt is $8.00. Previous experience at Concert Productions suggests that after the concert is over, T-shirts can still be sold, but the selling price will only be $5.00 per shirt. Based on analysis of previous similar concerts, the company estimates sales of the T-shirt will be 6,000 units. However, the analysis also shows that the standard deviation in similar situations is 800 units. How many Iggy Wiggy T-shirts should the company order?

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Operation Management, Management Studies

Category:- Operation Management
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