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The distribution of daily demand for party cakes at a bakery is shown in following table: Relative Frequency Demand 0.05 10 0.03 22 0.05 37 0.06 45 0.03 53 0 30

The distribution of daily demand for party cakes at a bakery is shown in following table: Relative Frequency Demand 0.05 10 0.03 22 0.05 37 0.06 45 0.03 53 0 30

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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The distribution of daily demand for party cakes at a bakery is shown in the following table: Relative Frequency Demand 0.05 10 0.03 22 0.05 37 0.06 45 0.03 53 0.39 61 0.19 88 0.2 111 Determine the optimal number of cakes to make each day if labour and material are estimated to cost $26.985 per unit. Cakes are sold for $38.55 per unit, and leftover cakes at the end of the day are sold next day at half price. O a. 45 O b. 88 Oc. 61 O d. 111 O e. 53
Transcribed Image Text:The distribution of daily demand for party cakes at a bakery is shown in the following table: Relative Frequency Demand 0.05 10 0.03 22 0.05 37 0.06 45 0.03 53 0.39 61 0.19 88 0.2 111 Determine the optimal number of cakes to make each day if labour and material are estimated to cost $26.985 per unit. Cakes are sold for $38.55 per unit, and leftover cakes at the end of the day are sold next day at half price. O a. 45 O b. 88 Oc. 61 O d. 111 O e. 53
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