- A Classical Inventory Problem Concerns The Purchase And Sale Of Newspapers The Paper Seller Buys The Papers For 3 Le Ea 1 (39.2 KiB) Viewed 66 times
A classical inventory problem concerns the purchase and sale of newspapers. The paper seller buys the papers for 3 LE each and sells them for 5 LE ech. Newspapers not sold at the end of the day are sold as scrap for 05 LE cach. There we three types of Newsday's "good," fair and one with probabilities of 0.25, 0.45 0.30, respectively. The distribution of newspapers demanded is shown in Table 5. The problem is to determine the optimal number of papers the newspaper eller should purchase. This will be accomplished by simulating demand for 7 days and recording profits from sales each day Table 5: Distribution of newspapers demanded Demand Prahatly Dato Demand Good For Por 40 0.00 010 0:44 0.05 0.15 0.22 15 0.00 0.16 70 OM 03 012 006 0.15 0.04 0.00 100 0.02 0.00 0.00 Required that Use the midigare method with red value to generate sequence of digit) poradenstomers in the interval 700,99). Then we these PRNs as random digits for types of sewday in Table 6 2. Use the midst method with a soud value 63 peterate another sequence of on-digit) prutorandom umbers in the interval [00,99). These the PR as mantom igits for demand in Table 6 3: Complete the simulation table Table one that the umber of papers the wspaper eller i 50, me calculate the total profit ONLY pload the Table nothing berting the Table Salle Dwy Du Mando Dign for Type Type of Needs சோயா Lart attam than Dign for Demand Demand 1 2 4 6 1