Business, 05.07.2021 19:50 alondraalfaro06
Monsanto sells genetically modified seed to farmers. it needs to decide how much seed to pit into a warehouse to serve demand for the next growing season. It will make one quantity decision. it costs montanso $8 to make each kilogram of seed. it sells each kg for $45. if it has more seed than demand by the local farmers, the remaining seed is sent overseas. unfortunately, it only earns $3 per kg from the over-seas market. If demand excedes its quantity, then the sales are lost-the farmers go to another suplier. as a forecast for demand it will use a normal distribution with a mean of 300,000 and a standard deviation of 100,000.
A. How many kilograms should it place in the warehouse before growing season.
B. if it puts 400,000 kg in the warehouse what is their expected revenue(include both domestic revenue and overseas revenue)?
C. how many kilograms should it place in the warehouse if it wants to minimize its inventory while ensuring that the stock out probability is no greater than 10 percent?
D. what is the maximum profit for this seed?
Answers: 2
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Monsanto sells genetically modified seed to farmers. it needs to decide how much seed to pit into a...
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