The company's sales analyst predicts an expected demand of 25,000 units with a 0.95 probability that demand will be between 15,000 units and 35,000 units. The four members of the management team have suggested order quantities for Noel25 of 20,000; 24,000; 27,000; and 32,000 units. The manufacturing and distribution cost is £20 per unit. The company expects to sell Noel25 before Christmas for £30 per unit. After the Christmas period, the company will sell surplus inventory for £10 per unit. Calculate the probability of a stock-out for the order quantity suggested by each member of the management team. [5 marks] Show working



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