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1) Assume weekly demand is normally distributed with mean 9 and standard deviation 3 2) There are 26 rental opportunities in a season.
1) Assume weekly demand is normally distributed with mean 9 and standard deviation 3
2) There are 26 rental opportunities in a season. Snow shoes are rented for $40
3) The average lifespan of snowshoes is 5 years
4) REI charges a 67% markup; snowshoes retail price is $200
What is the cost of having having a pair of snow shoes go unrented for a weekend of their useful life? (Think overage)
A. $4.82
B. $9.92
C. $0.92
D. $0.82
What is the "cost" of not having a snowshoe that someone can rent (ignore that the person might instead buy a snowshoe and just focus on lost rental revenue).
A. $40
B. $32
C. $120
D. $44
What is the profit-maximizing service level for rental snowshoes
A. .879
B. .911
C. .789
D. .978
How many rental snowshoes should they stock?
A. 13
B. 10
C. 17
D. 15
