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Cynthia should order pounds of oysters each day (round your response to one decimal place).

Cynthia should order pounds of oysters each day (round your response to one decimal place).

Practical Management Science
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 $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 120 pounds and a standard deviation of 11 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).
Transcribed Image Text: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 120 pounds and a standard deviation of 11 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).
The table below shows the total area under the normal curve for a point that is Z standard deviations to the right of the mean. 0.08 0.09 0.5319 0.5359 0.6026 0.6064 0.6103 0.6141 0.3 0.6406 | 0.6443 | 0.6480 0.6517 0.4 0.5 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.5000 0.5040 | 0.5080 | 0.5120 | 0.5160 0.5199 0.5239 | 0.5279 0.5398 0.5438 | 0.5478 0.5517 0.5557 0.5596 0.5636 | 0.5675 0.5714 0.5754 0.5793 0.5832 0.5871 0.5910 0.5948 0.5987 0.6179 0.6217 | 0.6255 | 0.6293 | 0.6331 | 0.6368 0.6554 0.6591 0.6628 0.6664 0.6700 | 0.6736 0.6772 0.6808 0.6844 0.6879 0.6915 0.6950 0.6985 0.7019 0.7054 | 0.7088 | 0.7123 | 0.7157 0.7190 | 0.7224 0.6 0.7258 0.7291 0.7324 0.7357 0.7389 0.7422 0.7454 0.7486 0.7518 0.7549 0.7 0.7580 0.7612 | 0.7642 | 0.7673 0.7704 | 0.7734 0.7764 | 0.7794 | 0.7823 | 0.7852 0.8 0.7881 0.7910 0.7939 0.7967 0.7996 0.8023 | 0.8051 | 0.8079 | 0.8106 0.8133 0.9 0.8159 0.8186 0.8212 | 0.8238 | 0.8264 | 0.8289 0.8315 0.8340 | 0.8365 0.8389 0.8413 0.8438| 0.8461 0.8485 0.8508 | 0.8531 0.8554 | 0.8577 0.8599 0.8643 0.8665 | 0.8686 0.8708 | 0.8729 0.8749 | 0.8770 | 0.8790 | 0.8810 0.8849 0.8869 0.8888 | 0.8907 | 0.8925 | 0.8944 0.8962 | 0.8980 | 0.8997 0.9015 0.9032 0.9049 0.9066 | 0.9082 | 0.9099 0.9115 0.9131 0.9147 0.9162 0.9177 0.9192 0.9207 0.9222 | 0.9236 0.9251 0.9265 0.9279 0.9292 0.9306 0.9319 0.9332 0.9345 0.9357 0.9370 | 0.9382 0.9394 | 0.9406 | 0.9418 | 0.9430 0.9441 1.6 0.9452 0.9463 0.9474 0.9485 0.9495 0.9505 0.9515 0.9525 0.9535 0.9545 1.7 0.9554 0.9564 0.9573 | 0.9582 | 0.9591 0.9599 | 0.9608 | 0.9616 0.9625 0.9633 1.0 0.8621 1.1 0.8830 1.2 1.3 1.4 1.5 Z 0.0 0.1 0.2
Transcribed Image Text:The table below shows the total area under the normal curve for a point that is Z standard deviations to the right of the mean. 0.08 0.09 0.5319 0.5359 0.6026 0.6064 0.6103 0.6141 0.3 0.6406 | 0.6443 | 0.6480 0.6517 0.4 0.5 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.5000 0.5040 | 0.5080 | 0.5120 | 0.5160 0.5199 0.5239 | 0.5279 0.5398 0.5438 | 0.5478 0.5517 0.5557 0.5596 0.5636 | 0.5675 0.5714 0.5754 0.5793 0.5832 0.5871 0.5910 0.5948 0.5987 0.6179 0.6217 | 0.6255 | 0.6293 | 0.6331 | 0.6368 0.6554 0.6591 0.6628 0.6664 0.6700 | 0.6736 0.6772 0.6808 0.6844 0.6879 0.6915 0.6950 0.6985 0.7019 0.7054 | 0.7088 | 0.7123 | 0.7157 0.7190 | 0.7224 0.6 0.7258 0.7291 0.7324 0.7357 0.7389 0.7422 0.7454 0.7486 0.7518 0.7549 0.7 0.7580 0.7612 | 0.7642 | 0.7673 0.7704 | 0.7734 0.7764 | 0.7794 | 0.7823 | 0.7852 0.8 0.7881 0.7910 0.7939 0.7967 0.7996 0.8023 | 0.8051 | 0.8079 | 0.8106 0.8133 0.9 0.8159 0.8186 0.8212 | 0.8238 | 0.8264 | 0.8289 0.8315 0.8340 | 0.8365 0.8389 0.8413 0.8438| 0.8461 0.8485 0.8508 | 0.8531 0.8554 | 0.8577 0.8599 0.8643 0.8665 | 0.8686 0.8708 | 0.8729 0.8749 | 0.8770 | 0.8790 | 0.8810 0.8849 0.8869 0.8888 | 0.8907 | 0.8925 | 0.8944 0.8962 | 0.8980 | 0.8997 0.9015 0.9032 0.9049 0.9066 | 0.9082 | 0.9099 0.9115 0.9131 0.9147 0.9162 0.9177 0.9192 0.9207 0.9222 | 0.9236 0.9251 0.9265 0.9279 0.9292 0.9306 0.9319 0.9332 0.9345 0.9357 0.9370 | 0.9382 0.9394 | 0.9406 | 0.9418 | 0.9430 0.9441 1.6 0.9452 0.9463 0.9474 0.9485 0.9495 0.9505 0.9515 0.9525 0.9535 0.9545 1.7 0.9554 0.9564 0.9573 | 0.9582 | 0.9591 0.9599 | 0.9608 | 0.9616 0.9625 0.9633 1.0 0.8621 1.1 0.8830 1.2 1.3 1.4 1.5 Z 0.0 0.1 0.2
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