Cynthia Knott's oyster bar buys fresh Louisiana oysters for $4 per pound and sells them for $9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $2 per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 12 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order enter your response here pounds of oysters each day (round your response to one decimal place).
Cynthia Knott's oyster bar buys fresh Louisiana oysters for $4 per pound and sells them for $9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $2 per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 12 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order enter your response here pounds of oysters each day (round your response to one decimal place).
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Cynthia Knott's oyster bar buys fresh Louisiana oysters for $4
per pound and sells them for $9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $2
per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 12 pounds. How many pounds should she order each day? Refer to the standard normal table
for z-values.
per pound and sells them for $9 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $2
per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 12 pounds. How many pounds should she order each day? Refer to the standard normal table
Cynthia should order
enter your response here
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