Daily demand for a product is 100 units, with a standard deviation of 10 units. The review period is 20 days and the lead time is 5 days. At the time of review, 10 units are in stock. The demand will be satisfied 97.97% of the time, and there is a 2.28 % risk of stocking out. Hint: find Z where area under the curve = 0.9772How many umits should be ordered?

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?