Customers make independent purchase decisions

Assignment Help Operation Management

Reference no: EM13957404

A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 29 percent of all customers who pass such a special display will purchase the item. If 1,624 customers will pass the display on the day of the sale, and if a one-item-per-customer limit is placed on the sale item, how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale? Assume here that customers make independent purchase decisions

Reference no: EM13957404

Questions Cloud

What knowledge will give them global competitive advantage : Snyder, Wenger, and McDermott suggest that practice-based learning communities have been in existence since the dawn of man. They go on to claim that knowledge has become the key to success and that it is simply too valuable of a resource to be left ..

American education has evolved : Buckminster Fuller remarked that American education has evolved in such a way it will be the undoing of the society. Do you agree or disagree with Fuller's statement? Why or why not?

Comment on the two code of ethics websites : Comment on the two code of ethics websites for coders at AAPC and AHIMA: American Academy of Professional Coders and AHIMA. How are they different? How are they the same?

How much are you willing to pay for product safety : How much in your estimation would you be willing to pay for a car seat? How much, therefore, is the life of your child worth to you? How are utilitarian principles at work in this exercise? How much are you willing to pay for product safety?

Customers make independent purchase decisions : A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 29 percent of all customers who pass such a special display will purchase the item. how many units of the sale item should the store ..

The mission-vision and value statement of an actual firm : After reading Chapter 9 of our text, conduct research and present the class with 1) the mission, vision, and value statement of an actual firm 2) whether or not you feel the firm has been successful in adhering to their statements.

Design an exit interview for these departing employees : The Human Resources Director of ABC Software Company. Recently three software designers employed in the same department under the same supervisor have announced that they are quitting their jobs. I would like you to design an exit interview for these..

Specialty packaging corporation case study : What forecasting method would you use and find demand for years 6 to 8 in the Specialty Packaging corporation Case Study in Chapter 7 of Supply chain Management strategy, planning and operation by Sunil Chopra and Peter mindl.

What percentage of their total sales revenue per unit : Amy and Steve assumed that, for every $6 in sales, $4 will come from selling computer-related services. Calculate what percentage of their total sales revenue per unit this $4 represents.

User Account

All Pages