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1. bower is an outdoor clothing accessories chain that produces a line of hats for $10 from its asian supplier, bowersports. unfortunately at the time of order placement, demand is uncertain. bower forecasts that its demand is normally distributed with a mean of 2,100 and standard deviation of 1,200. the hats are sold for $22. unsold hats have little salvage value: bower simply donates them to charity. a) bower will consider this hat to be a big success if it sells more than 4,000. what is the the probability it will be a big success? probability

Respuesta :

The probability that the hat will be a big success = 0.0567

The probability of an event occurring is defined by probability. There are many instances in real life where we may need to make predictions about how something will turn out. The outcome of an event may be known to us or unknown to us. When this happens, we say that there is a chance that the event will happen or not. In general, probability has many great applications in games, in business to make predictions based on probability, and in this new branch of artificial intelligence.

Mean = 2100

The standard deviation of demand = 1200

Selling price = $22

Purchase cost = $10

Salvage value = 0

Underage cost = SP - CP = 12

Overage cost = CP-SV = 10

Order Quantity, 50% = 4000

Part a:

When quantity = 4000

Z = (Quantity - Mean)/Standard deviation

= (4000 - 2100)/1200

= 1.5833

P(z) = Normal Distribution(z) = 0.9433

The probability that it sells more than 4000 units, = 1- P(z) = 0.0567

Learn more about probability:

https://brainly.com/question/11234923

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