Magdeleine James is a sole trader, who sells souvenir T-shirts. She wishes to sell her T-shirts at the Tobago Jazz festival. Each t-shirt cost $165 to produce and sells for $225. After the festival, she reduces the sale price of the T-shirts by 70% in order to sell them off. Experience from previous years has shown that the demand for these T-shirts at the festival is 82, with a standard deviation of 21. How many T-shirts should Magdeleine take to sell at the festival?
Magdeleine James is a sole trader, who sells souvenir T-shirts. She wishes to sell her T-shirts at the Tobago Jazz festival. Each t-shirt cost $165 to produce and sells for $225. After the festival, she reduces the sale price of the T-shirts by 70% in order to sell them off. Experience from previous years has shown that the demand for these T-shirts at the festival is 82, with a standard deviation of 21. How many T-shirts should Magdeleine take to sell at the festival?
Purchasing and Supply Chain Management
6th Edition
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
ChapterC: Cases
Section: Chapter Questions
Problem 5.1SC: Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing...
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Magdeleine James is a sole trader, who sells souvenir T-shirts. She wishes to sell her T-shirts at
the Tobago Jazz festival. Each t-shirt cost $165 to produce and sells for $225. After the festival,
she reduces the sale price of the T-shirts by 70% in order to sell them off. Experience from previous
years has shown that the demand for these T-shirts at the festival is 82, with a standard deviation
of 21. How many T-shirts should Magdeleine take to sell at the festival?
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