Find the z-score that corresponds to optimal service level

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Reference no: EM13841324

Univ. of Florida football programs are printed 1 week prior to each home game. Attendance averages 90,000 screaming and loyal Gator fans, of whom 2/3 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 $1.

If needed or possible, please round to the nearest ten thousandth.

(1) Find Cu. (2) Find Co. (3) Compute the optimal service level. (4) Find the z-score that corresponds to the optimal service level. (5) Compute optimal order quantity. (6) Suppose the university wishes to ensure a 95% service level. Find the new z-score and compute the new optimal order quantity.

Reference no: EM13841324

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