How many jerseys should be ordered

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Reference no: EM132223759

During the Final Four, demand for basketball jerseys is uniformly distributed (min demand is 100 and max demand is 500). Each jersey costs $30. The selling price is $40 per jersey. (a) How many jerseys should be ordered? (b) If the demand for basketball jerseys is normally distributed with mean 1,000 and standard deviation 300. In addition, the unsold jerseys can be sold off at half price. How many jerseys should be ordered? (hint: z value can be obtained using NORMSINV function in excel or from the following table)

Reference no: EM132223759

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