# (Solved Homework): LifeKicks Jacbobs sneakers cost \$40 per pair from the supplier and are sold by LifeKicks at…

LifeKicks Jacbobs sneakers cost \$40 per pair from the supplier and are sold by LifeKicks at \$80 per pair during their peak fall selling season. Shoes not sold during the fall are moved to the LifeKicks outlet store and sold at the discounted price of \$25. The demand is normally distributed with a mean of 100 and standard deviation of 20. What is the optimum order quantity? Choose the closest answer. a) 100 b) 105 c) 110 d) 115

Given Price P = \$80

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Cost C = 40

Salvage cost V = \$25

Overage cost Co = Cost – Salvage Value = 40-25 = 15

Underage cost Cu = Price – Cost = 80-40 = 40

Critical ratio p = Cu/(Cu+Co) = 40/(40+15) = 0.72

Z = normsdist(0.72) = 0.76

Optimal Order Quantity Q

$Q=\mu +Z\sigma$

Mean $\mu$ = 100

Standard deviation $\sigma$ = 20

Q = 100+(0.76*20) = 100 + 15.2 = 115.2 or 115

d) 115

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