# solution

Pizza Ltd make pizzas which they sell at a weekly farmers market. The owner of the business has logged sales over the last year (50 trading days) Number of Pizza Sold 10 20 30 40 50 Days 7 11 12 15 5 Calculated the expected number of sales of pizzas and recommend how many pizzas EZ Pizza Ltd should supply at the weekly market based on expected values. (3 marks) The owner has suggested expanding the range to include vegan pizzas. They have been calculating some cost figures. Each vegan pizza will have a cost of Â£2 and can be sold for Â£5. EZ Pizza Ltd needs to decide how many vegan pizzas to supply. The options available are to supply 5, 10 or 20 vegan pizzas. Demand is unknown. (1) Construct a cost table, a revenue table and a payoff table for the supply and demand of 5, 10 or 20 vegan pizzas and state what would be chosen under maximax and maximin. (6 marks) Construct a regret table for the supply and demand of 5, 10 or 20 vegan pizzas and state which option would be chosen under minimax regret. (4 marks) Form Tools Table Window re Soraya Draw Design Layout References Tell me Share A AA ?? A ? A Stylos 20 5 I- A- MANAGEMENT ACCOUNTING SAG504 SECTION B: ANSWER THREE QUESTIONS FROM FOUR QUESTION ONE Deelish Lid make cupcakes which they sell at a weekly farmers market. The owner of the business has logged sales over the last year (50 trading days) Number of Cupcakes Sold 20 40 60 80 100 Days 22 13 9 5 1 Calculated the expected number of sales of cupcakes and recommend how many cupcakes Deelish Ltd should supply at the weekly market based on expected values. (3 marks) The owner has suggested expanding the range to include vegan cupcakes. They have been calculating some cost figures. Each vegan cupcake will have a cost of Â£1 and can be sold for Â£3. DeeLish Ltd needs to decide how many vegan cupcakes to supply. The options available are to supply 20, 30 or 40 vegan cupcakes. Demand is unknown Construct a cost table, a revenue table and a payoff table for the supply and demand of 20, 30 or 40 vegan cupcakes and state what would be chosen under maximax and maximin. (6 marks) Construct a regret table for the supply and demand of 20, 30 or 40 vegan cupcakes and state which option would be chosen under minimax regret.

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