What quantity of beanie hats should you order before winter

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Reference no: EM133686624

Problem: Assuming you operate a small retail store, and with winter approaching, you must place an order for warm, handwoven beanie hats imported from a fair trade company. The production and shipment process is time-consuming, preventing additional orders until the next winter. Each hat costs $10, and you retail them at $20. Due to storage constraints, you sell the remaining hats to an online outlet website for $5 each after winter. Assuming the demand for hats follows a normal distribution with an average of 300 and standard deviation of 100 hats. What quantity of beanie hats should you order before winter?

Reference no: EM133686624

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