A national pharmacy chain considers selling graduation cards this year. These cards are typically released in February and need to be sold before the end of May. After May, the remaining cards would be marked down to get sold. For each card, the item cost is $0.91, the regular selling price by the end of May is $4.99, and the marked down price after May is $0.48. The pharmacy's historical demand is normally distributed with a mean of 1.82 million cards and a standard deviation of 0.16 million cards. You would need to show equations, steps, and the final results with units for full credits Answers are in millions using 5 decimals, e. g. 1.76384 million cards. You should not round up the optimal order quantity! For simplicity, all taxes and other costs are not considered. All parts below are based on the optimal order quantity decision in part (a). See Hint below.
(a) To maximize expected profit, how many cards should the pharmacy carry this year?
(b) Sketch the normal demand distribution with details to illustrate the business decision.
(c) What is the expected inventory? (in millions with 5 decimals)
(d) What are the expected sales? (in millions with 5 decimals)
(e) What is the expected profit? (in millions of dollars with 5 decimals)
(f) What is the in-stock probability? (5 decimals) (g)[1] What is the stockout probability? (5 decimals)
Hint: Use the following tables to find the z-value and the corresponding /(z) value. αν 0.58803 0 .67849 0.76896 0.90466 zv = NORM. S.INV(av) 0.22247 0.46349 0.73542 1.30855 0.94989 1.64378 ZV (zv) 1.04684 1.12299 1.30855 1.35326 1.50483 1.53382 1.70112L 1.71935 1.96283 1.97220

Assume the government imposes a $2.25 tax on suppliers, which results in a shift of the supply curve from s1 to s2. the price the seller receives for the product after paying the tax is

Journalize the following transactions that occurred in september 2015 for aquamarines. no explanations are needed. identify each accounts payable and accounts receivable with the vendor or customer name. sep. 3 purchased merchandise inventory on account from shallin wholesalers, $5,000. terms 1/15, n/eom, fob shipping point. 4 paid freight bill of $80 on september 3 purchase. 4 purchased merchandise inventory for cash of $1,700. 6 returned $500 of inventory from september 3 purchase. 8 sold merchandise inventory to hermosa company, $6,000, on account. terms 2/15, n/35. cost of goods, $2,640. 9 purchased merchandise inventory on account from thomas wholesalers, $8,000. terms 2/10, n/30, fob destination. 10 made payment to shallin wholesalers for goods purchased on september 3, less return and discount. 12 received payment from hermosa company, less discount. 13 after negotiations, received a $200 allowance from thomas wholesalers. 15 sold merchandise inventory to jordan company, $2,500, on account. terms 1/10, n/eom. cost of goods, $1,050. 22 made payment, less allowance, to thomas wholesalers for goods purchased on september 9. 23 jordan company returned $400 of the merchandise sold on september 15. cost of goods, $160. 25 sold merchandise inventory to smithsons for $1,100 on account that cost $400. terms of 2/10, n/30 were offered, fob shipping point. as a courtesy to smithsons, $75 of freight was added to the invoice for which cash was paid by aquamarines. 26 after negotiations, granted a $100 allowance to smithsons for merchandise purchased on september 25. 29 received payment from smithsons, less allowance and discount. 30 received payment from jordan company, less return.

Last week paul, ceo of quality furniture in south carolina, traveled to europe to visit customers. while overseas, paul checked his e-mail daily and showed his company's website to customers, explaining how the website will them place orders and receive merchandise more quickly. after visiting the last customer friday morning, paul was able to return to the corporate office in south carolina to meet with his board of directors that night. is the "shrinking" of time and space with air travel and electronic media.