Q 1 – 1 pts Question 1 – Must answer Honor Code: I have no…
Q 1 – 1 pts Question 1 – Must answer Honor Code: I have not either accepted nor given outside assistance on this test. I understand that I am expected to follow the Academic Integrity Standards as found in the NVCC Student Handbook. If you skip this questions, your will receive zero credit for the exam. Signed: [Type your name in the text field below.]
Read DetailsWaldo sells pre-packaged lunches to construction workers at…
Waldo sells pre-packaged lunches to construction workers at a Peachtree Street construction site near the Georgia Tech campus. The pre-packed lunches include hand-crafted sandwiches, chips, and a piece of fruit. In total, product costs for Waldo are $3.50/lunch and he sells the product for $10.00 to his construction worker clientele. Ignore sales tax, Waldo doesn’t pay it anyway. When Waldo runs out of product, he simply takes orders from his remaining customers, walks two blocks to the Varsity Drive-In, and buys the exact amount of product needed to fill the orders. Waldo charges each customer exactly $1.25 more per product than his costs, which will be variable based on the exact food orders placed by the individual workers. Waldo only provides this “courier” service if he runs out of his own product and performs the service to maintain goodwill with his customers. If instead of being under, Waldo is over on product, he sells his unsold lunches to a homeless mission for $1.00/lunch. Waldo believes that his demand follows a normal distribution with a mean of 350 and a standard deviation of 60. Considering this information, what is Waldo’s optimum service level? Select the closest answer.
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