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jas213 Continuous Probability Distributions- Statistics can someone solve the below problem?
Specialty faces the decision of how many Weather Teddy units to order fr the coming season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000 or 28,000 units. The wide range of order quantities suggested indicate considerable disagreement concerning the market potential. The product management team ask you for an analysis of the stock out probabilities for various order quantities, an estimate of the profit potential and to help make an order quanity recommendation. Specialty expects to sell weather teddy for $24 based on a cost of $16 per unit, if inventory remains after the holiday season, Specialty will sell all surplus inventory for $5 per unit. After reviewing the sales history f similar products, Specialty's senior sales forecaster predicted an expected demand of 20,000 units with .90 probability that demand would be between 10,000 units and 30,000 units.
1. use the sale forecaster's prediction to describe a normal probability distribution that can be used to approximate the demand distribution. Sketch the distribution and show its mean and standard deviation