Cynthia Knott's oyster bar buys fresh Louisiana oysters for $5 per pound and sells them for $10 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $3 per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 16 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order pounds of oysters each day (round your response to one decimal place).

Cynthia Knott's oyster bar buys fresh Louisiana oysters for $5 per pound and sells them for $10 per pound. Any oysters not sold that day are sold to her cousin, who has a nearby grocery store, for $3 per pound. Cynthia believes that demand follows the normal distribution, with a mean of 100 pounds and a standard deviation of 16 pounds. How many pounds should she order each day? Refer to the standard normal table for z-values. Cynthia should order 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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