University of florida football programs are printed 1 week, Ask an Expert

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University of Florida football programs are printed 1 week prior to each home game. Attendance averages 60,000 screaming and loyal Gators fans, of whom two-thirds usually buy the program, following a normal distribution, for $4 each. Unsold programs are sent to a recycling center that pays only 10 cents per program. The standard deviation is 5,000 programs, and the cost to print each program is $2. Refer to the standard normal table for z values.

(a) What is the cost of underestimating demand for each program?

(b) What is the average cost per program?

(d) What is the stock out risk for this order size?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91349530

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