Demand for whole turkey at County Market store during the Thanksgiving break can beapproximated by a normal distribution with an average of 55 pounds and a standard deviation of10 pounds. The turkey sells for $5 per pound, and the unit cost to the store is $1.8 per pound. For any leftover turkey after thanksgiving, the store will donate to local community center which results in a small tax deduction that is worth $0.20 per pound.Find the optimal stocking level for the turkey for the Thanksgiving week and the expected profit based on the optimal stocking level.
Demand for whole turkey at County Market store during the Thanksgiving break can beapproximated by a normal distribution with an average of 55 pounds and a standard deviation of10 pounds. The turkey sells for $5 per pound, and the unit cost to the store is $1.8 per pound. For any leftover turkey after thanksgiving, the store will donate to local community center which results in a small tax deduction that is worth $0.20 per pound.Find the optimal stocking level for the turkey for the Thanksgiving week and the expected profit based on the optimal stocking level.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 22SGR
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