M451 Supply Chain Management | My Assignment Tutor

M451 Supply Chain Management- Tutorial 3 Solution Dr Banafsheh Khosravi Discrete and Continuous News Vendor models 1) pp =1800         sp = 2500        s = 1700 Cu = 2500-1800 = 700            Cv = 1800-1700 = 100 P (D = 130) = 0.09 P (D ≤ 140) = 0.02 + 0.05 + 0.08 + 0.09 + 0.11 = 0.35 P (D > 140) = 1 – 0.35 = 0.65 P (D ≥ 140) = 1 – 0.35 + 0.11 = 0.76 2) Profit = 5-3 = £2          Loss = 3-0.5 = £2.5 Order quantity  Demand  Expected profit  10 20 30 40 50 60 102266222020-0.5412124435.530-31.518186646.540-5.5-110.524884450-8-3.5316.510102860-10.5-6-4.597.5127.5P(x)0.10 0.10 0.30 0.30 0.10 0.10 3) Note: Find the closest probability values to 0.5883 in the standard normal distribution Table and do the interpolation which results in z’= 0.2231. Therefore, z = – 0.2231 as the complement probability was looked up in the table. 4) Note: Find the closest probability values to 0.6 in the standard normal distribution Table and do the interpolation which results in z= 0.2533. Note: Find the closest z values to 0.477 in the standard normal distribution Table and do the interpolation which results in P(Z ≤ 0.477) = 0.6833

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

Leave a Reply

Your email address will not be published. Required fields are marked *