The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

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Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

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CPG Bagels starts the day with a large production run of bagels. Throughout the morning additional bagels are produced as needed. The last bake is completed at 3 pm, and the store closes at 8 pm. It costs approximately $0.56 in materials and labor to make a bagel. The price of a fresh bagel is $2.29. Bagels not sold by the end of the previous day are sold the next day as "day- old" bagels for $0.15 each. CPG Bagels uses the Newsvendor model to management the inventory of the bagels. The critical ratio %. Report the answer without the percentage sign and keep one decimal in your answer. For example, if your answer is 0.9232 (92.32%), report 92.3 in your answer.

Glams Touch is a budding cosmetics family business in Sekondi. The owners, Baaba Benson and Bernard Benson, must ensure that they judiciously use the store space available. They have never kept detailed inventory or sales records. They immediately place new items on the shelves as soon as shipment of goods arrives.Invoices from suppliers are only kept for tax purposes. During sales, they record the items numbers and the total amount received at the cash register. The owners use their own judgment in identifying items that need to be reordered. Baaba and Bernard rely on their own judgment in deciding the cosmetics that need to be restocked.Analyse the business implication of this situation. In your view, how could information systems be utilized to assist the Bensons manage Glams Touch. Enumerate some data that should be captured by the systems and what information outputs are to be churned out from the system.

PA 13-9 (Algo) CPG Bagels starts the day with a large production... CPG Bagels starts the day with a large production run of bagels. Throughout the morning, additional bagels are produced as needed. The last bake is completed at 3 p.m. and the store closes at 8 p.m. It costs approximately $0.25 in materials and labor to make a bagel. The price of a fresh bagel is $0.60. Bagels not sold by the end of the previous day are sold the next day as "day old" bagels in bags of six for $0.99 a bag. About two-thirds of the day-old bagels are sold; the remainder are just thrown away. There are many bagel flavors, but for simplicity, concentrate just on the plain bagels. The store manager predicts that demand for plain bagels from 3 p.m. until closing is normally distributed with a mean of 51 and a standard deviation of 25. Use Table 13.4. If a part of the question specifies whether to use Table 13.4, or to use Excel, then credit for a correct answer will depend on using the specified method. How…

Answer 2

Question

Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

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Answer 3

Question

Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

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Answer 4

Question

Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

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Answer 5

Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

Answer 6

Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

Answer 7

Chapter 13, Problem 9PA

a)

Summary Introduction

To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

Answer 8

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

Answer 9

b)

Summary Introduction

To determine: The expected bagels to be present at the end of the day.

Answer 10

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

Answer 11

c)

Summary Introduction

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 13 - Which of the following is NOT true about the...Ch. 13 - A newsvendor orders the quantity that maximizes...Ch. 13 - Prob. 3CQ Ch. 13 - Suppose the newsvendor model describes a firms...Ch. 13 - Prob. 5CQ Ch. 13 - Prob. 6CQ Ch. 13 - A retailer has two merchandizers, Sue and Bob, who...Ch. 13 - Prob. 8CQ Ch. 13 - Which of the following changes in the in-stock...Ch. 13 - Prob. 10CQ

The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

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To determine: The number of bagels the store must have at 3 p.m. to maximize the stores expected profit.

To determine: The expected bagels to be present at the end of the day.

To determine: The bagels the store must have at 3 p.m. to ensure the desired level of service.

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