Course Solutions Uncategorized (Answered) : Houston Korner Grocers buys fresh grapes from a local farmer every week. The weekly demand follows a normal distribution with a

(Answered) : Houston Korner Grocers buys fresh grapes from a local farmer every week. The weekly demand follows a normal distribution with a

June 27, 2024June 27, 2024| adminadmin| 0 Comment| 7:35 pm
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Houston Korner Grocers buys fresh grapes from a local farmer every week. The weekly demand follows a normal distribution with a mean of 30 pounds with a standard deviation of 5 pounds. He buys fresh grapes at the rate of $1.20/pound and sells them at the rate of $3.00/pound during the week. All unsold grapes will be sold in the following week at the rate of $0.50/pound. How many pounds he should buy that will maximize his weekly profit?

A. 29

B. 31

C. 33

D. 35

Expert Answer

Given

Mean = 30 pounds

Standard deviation = 5

Cost = $1.2

Price = 3

Salvage value = $0.5

Overage

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