Oregon State University Has Reached the Final Four in the 2016

question 4

Essay

Oregon State University has reached the final four in the 2016 NCAA Women's Basketball Tournament, and as a result, a sweatshirt supplier in Corvallis is trying to decide how many sweatshirts to print for the upcoming championships. The final four teams (Oregon State, University of Washington, Syracuse, and University of Connecticut) have emerged from the quarterfinal round, and there is a week left until the semifinals, which are then followed in a couple of days by the finals. Each sweatshirt costs $12 to produce and sells for $24. However, in three weeks, any leftover sweatshirts will be put on sale for half price, $12. The supplier assumes that the demand (in thousands) for his sweatshirts during the next three weeks, when interest is at its highest, follows the probability distribution shown in the table below. The residual demand, after the sweatshirts have been put on sale, also has the probability distribution shown in the table below. The supplier realizes that every sweatshirt sold, even at the sale price, yields a profit. However, he also realizes that any sweatshirts produced but not sold must be thrown away, resulting in a $12 loss per sweatshirt.
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Demand distribution at regular price Demand distribution at reduced price
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-Use @RISK simulation add-in to analyze the sweatshirt sales. Do this for the discrete distributions given in the problem.

Grasp the concept of the zone of tolerance in managing customer expectations and satisfaction.

Understand symbolic or experiential attributes and their influence on consumer preference.

Recognize the significance of customer satisfaction and its impact on loyalty and advocacy.

Learn about the components of relationship capital and its relevance to competitive advantage.

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Definitions:

Break Statement

A control flow statement used to exit loops or switch statements prematurely in various programming languages.

Switch Statement

A control statement in programming that allows a variable to be tested for equality against a list of values, each with a set of statements to be executed.

Logical Operator

Operators used in programming to perform logical operations like AND, OR, and NOT, typically used in decision-making processes.

!=

A relational operator in programming that checks if two values are not equal to each other.