A grocery store has n watermelons to sell and makes $1 00 on each sale Say the number of consumers of these watermelons is a random variable with a distribution that can be approximated by A pdf of the continuous type If the grocer does not have enough watermelons to sell to all consumers, she figu...

A grocery store has n watermelons to sell and makes $1.00 on each sale. Say the number

Question:

A grocery store has n watermelons to sell and makes $1.00 on each sale. Say the number of consumers of these watermelons is a random variable with a that can be approximated by

A pdf of the continuous type. If the grocer does not have enough watermelons to sell to all consumers, she figures that she loses $5.00 in goodwill from each unhappy customer. But if she has surplus watermelons, she loses 50 cents on each extra watermelon. What should n be to maximize profit?

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...