Ordering and Pricing at Land’s End
Cost of sweaters = 50$
Sale Price in winter catalog = 150$
Mean demand from winter catalog = 3,000
SD of demand from winter catalog = 1,000
Mean discounted demand = 250
SD of discounted demand = 83.33
Initial Quantity ordered = 3000 Cost of sweaters ordered = 150,000$
Winter catalog demand = 3872 Revenue from winter sales = 450,000$
To use the simulation to estimate the optimal
initial order quantity, change the quantity in
Cell D10 to various numbers between 3,000
and 5,000. Press F9 to obtain the average profit
in Cell C18.
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