A t-shirt company is planning a production run for an event where the attendance (and thus demand for t-shirts) is uncertain. The event planners have indicated that they think the attendance will be 500, 750 or 1000, with probabilities of 30%, 50% and
20% respectively. The company must pre-order the blank t-shirts (cost=$5 per shirt) and it can sell finished shirts for $12 apiece. Any finished shirts that cannot be sold at the event can be sold for $2 apiece to a used clothing vendor. Suppose now that blank t-shirts can only be ordered from the wholesale vendor in batches of 50? How many t-shirts should the company order?
We can again set up a one-way data table with net profit as the output and order as the input (with trial quantities of 600, 650, 700, 750, and 800), which shows that the net profit is maximized at $5000 with an order of 750 shirts.
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When the probability of success, P is modeled using a binary logit model, it is constrained to lie between ________
A) 0 to -1 B) -1 to 1 C) 1 to 100 D) 0 and 1
What is a conventional distribution channel?
What will be an ideal response?
Most temporary employment agencies operate with the employer paying the fee for placement.
Answer the following statement true (T) or false (F)