A local bookstand believes that the demand for the Olympic Edition of a sports magazine is normally distributed with a m
Posted: Wed Jul 06, 2022 12:19 pm
- A Local Bookstand Believes That The Demand For The Olympic Edition Of A Sports Magazine Is Normally Distributed With A M 1 (117.46 KiB) Viewed 7 times
A local bookstand believes that the demand for the Olympic Edition of a sports magazine is normally distributed with a mean of 1,150 and a standard deviation of 240. The magazine costs the bookstand $1.80 per copy, and the bookstand will sell the issue for $6.00. Following the Olympic Games there will be no demand for the magazine and all leftover copies will be recycled because they will have no salvage value. What is the optimal number of copies of the special Olympic edition the bookstand should order? Click the icon to view the table of standard normal probabilities. The bookstand should order copies of the special Olympic edition. (Enter your response rounded to the nearest whole number.)