A baker bakes fresh apple pies at the beginning of everyday. At the end of the day, unsold pies are reduced in price by 70% and always sell out for this lower price instantly (discounted products are sold at a loss). If demand for pies is normal with a mean of 200 pies and standard deviation of 25 pies, find the price a fresh pie sells for. Assume a service level of 95% and that the baker purchases ingredients for $2 per pie (assume labour cost is zero).
Round your final answer only. Round your final answer to 2 decimal places.
The average daily demand of a bottle of paint thinner at a hardware store has a standard deviation of 5 units. If lead time is 2 days, and re-order point with 90% service value is 39, what is the average daily demand?
Round all your numbers except your final answer to 2 decimal places. Round your final answer to the nearest integer.