Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Question
Jays Sporting Goods is a chain of sporting goods stores found in 1948 and with locations throughout the United States. One of their top selling products each Spring and Summer are fishing rod & reel combinations. The location in Selinsgrove, PA is trying to expand sales for fishing equipment into the winter months, and has started stocking products by the brand Thirteen Fishing, which include ice fishing equipment. The table below provides data from Q4 of 2023 for rod & reel combo inventory at the Selinsgrove location. The store did not receive any inventory replenishments during this quarter.
a) What was the in-stock probability across all rod & reel products in the table above over the quarter?
b) What was the in-stock probability of just the ice fishing products in the table above over the quarter?
c) A consumer entering the store last quarter wants to buy a Thirteen Fishing branded rod and reel combo listed in the table above. Would this consumer be more likely to find an icefishing product or a non-ice fishing product in-stock?
Transcribed Image Text:SKU Name
("Thirteen Fishing" branded
products)
Fate FT Casting Combo Rod
Fate FT Spinning Combo
Rod
BlackBetty Ghost Stealth Ice
Fishing Combo
Tickle Stick 3 Ice Rod
Snitch Pro Spin Combo
Wicked Long Stem Ice Fishing
Combo
Noise Ice Spinning Rod
Free Fall Ghost/Fate V3 Ice
Combo
FreeFall Ghost Patriot Ice
Combo
Wicked Stealth Ice Spinning
Combo
Ice
Fishing
Product?
NO
NO
YES
YES
NO
YES
YES
YES
YES
YES
MSRP
$ 99.99
$ 99.99
$130.00
$ 60.00
$79.99
$ 59.99
$29.99
$130.00
$130.00
$ 89.99
Starting
Inventory
15
21
22
8
10
35
18
15
12
20
Ending
Inventory
0
10
20
0
0
33
3
13
11
8
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Step 1: Describe the problem
VIEW Step 2: Define In-Stock Probability
VIEW Step 3: a) Find the in-stock probability for all rod & reel products
VIEW Step 4: b) Find the in-stock probability of only the ice fishing products
VIEW Step 5: c) Find the likelyhood to find an ice fishing product or a non-ice fishing product in-stock
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