Color TVs
量化运营管理代写 The promotion will last 10 days, at the end of which any sets that you ordered but have not sold will be sold to another retailer for $250 each.
You are the manager of Tex Electronics and are planning a promotion on a discontinued model of 27″ color TVs. 量化运营管理代写
The promotion will last 10 days, at the end of which any sets that you ordered but have not sold will be sold to another retailer for $250 each. You must order the sets from the manufacturer before you know what the demand during the promotion will 600.Your cost is $350 per set and you will sell them for $600.You estimate that each day there is a 50% chance of no one wanting to buy a set, a 30% chance of 1 person wanting to buy a set, and a 20% chance of 2 people wanting to buy a set.Assume that the demand on each day is independent from the demand on other days.
a) What order quantity maximizes expected profit? What is the expected value with this strategy? Build MCS model to support your recommendation. 量化运营管理代写
b) How many TV units do you recommend Tex Electronics to order and why?
c) With the recommended strategy, what is the probability that Tex Electronics will stock out?
d) How would you recommendation change, if Tex Electronics could not salvage the remaining TVs (zero salvage value)?
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