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hello there in this video well demonstrate how to determine the optimal stocking level under a single period inventory model this question corresponds to problem 1237 in your text here we have a bakery that prepares its cakes between 4 and 6 a.m so theyll be fresh when their customers arrive dailed cakes are pretty much always sold but at a fifty percent discount off the regular price of ten dollars the cost of baking a cake is six dollars and the estimated demand is normally distributed with a mean of 25 and standard deviation of four the requirement is to determine the optimal stocking level if we list our variables in the problem to be used with a single period inventory model we have the cost of a shortage which is simply the selling price minus the variable cost of making the cake which is ten dollars minus six dollars or four dollars in accounting we also call that contribution margin and then we also have the cost of overage which basically is the six dollar cost minus the sal
