How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round your answer to the nearest whole number.)

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter11: Simulation Models
Section: Chapter Questions
Problem 47P
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The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the previous
day is sold to a dealer that resells it to farmers who use it to feed their animals. This week, the supermarket can buy fresh lettuce for
$8.00 a box. The lettuce is sold for $16.00 a box and the dealer that sells old lettuce is willing to pay $1.80 a box. Past history says that
tomorrow's demand for lettuce averages 245 boxes with a standard deviation of 38 boxes.
How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORMSINV() function to find the correct
critical value for the given a-level. Do not round intermediate calculations. Round your answer to the nearest whole number.)
Number of boxes
Transcribed Image Text:The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week, the supermarket can buy fresh lettuce for $8.00 a box. The lettuce is sold for $16.00 a box and the dealer that sells old lettuce is willing to pay $1.80 a box. Past history says that tomorrow's demand for lettuce averages 245 boxes with a standard deviation of 38 boxes. How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round your answer to the nearest whole number.) Number of boxes
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