--%>
Assignment Help - homework help

profit-loss based problems

A leather wholesaler supplies leather to shoe companies. The manufacturing quantity requirements of leather differ depending upon the amount of leather ordered by the shoe companies to him. Due to the volatility in orders, he is unable to precisely predict what will be the demand from the shoe companies to him in the coming months. Below is the data he has collected from his monthly order books in the last 3 years:

Quantity of Leather ordered         No. of times this quantity

by shoe companies                      (in kg) was ordered

1200                                                3

1800                                               12

2400                                             10

3000                                              4

3600                                              7

(a) Given the above past data, how much stock should he be prepared to keep available for the next month?

(b) Assume that 1 kg of leather costs him Rs.150/- and he sells it to the shoemakers for a price of Rs.175/-. Also for any excess leather stock in a month that remains, he disposes them off by selling to smaller shops for a price of Rs.140/-. If the demand in the next month turns out to be 1800 kg, what would be his profit/loss?

   Related Questions in Mathematics

  • Q : Define Well-formed formulas or Wffs

    Wffs (Well-formed formulas): These are defined inductively by the following clauses:    (i) If  P  is an n-ary predicate and  t1, …, tn are terms, then P(t1, …, t

    		•
  • Q : Explain a rigorous theory for Brownian

    Explain a rigorous theory for Brownian motion developed by Wiener Norbert.

    		•
  • Q : Theorem-Group is unique and has unique

    Let (G; o) be a group. Then the identity of the group is unique and each element of the group has a unique inverse.In this proof, we will argue completely formally, including all the parentheses and all the occurrences of the group operation o. As we proce

    		•
  • Q : Relationships Between Data Introduction

    Relationships Between Data - Introduction to Linear Regression Simple Regression Notes If you need guidance in terms of using Excel to run regressions, check pages 1 - 10 of the Excel - Linear Regression Tutorial posted to th

    		•
  • Q : Probability assignments 1. Smith keeps

    1. Smith keeps track of poor work. Often on afternoon it is 5%. If he checks 300 of 7500 instruments what is probability he will find less than 20substandard? 2. Realtors estimate that 23% of homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2

    		•
  • Q : Define Big-O notation Big-O notation :

    Big-O notation: If f(n) and g(n) are functions of a natural number n, we write f(n) is O(g(n)) and we say f is big-O of g if there is a constant C (independent of n) such that f

    		•
  • Q : Theorem-G satis es the right and left

    Let G be a group. (i) G satis es the right and left cancellation laws; that is, if a; b; x ≡ G, then ax = bx and xa = xb each imply that a = b. (ii) If g ≡ G, then (g-1)

    		•
  • Q : Formal logic2 It's a problem set, they

    It's a problem set, they are attached. it's related to Sider's book which is "Logic to philosophy" I attached the book too. I need it on feb22 but feb23 still work

    		•
  • Q : Problem on Maple (a) Solve the

    (a) Solve the following  by: (i) First reducing the system of first order differentiat equations to a second order differential equation. (ii) Decoupling the following linear system of equa

    		•
  • Q : Explain Black–Scholes model Explain

    Explain Black–Scholes model.

    		•