Question: Demand for devil s food whipped cream layer cake at a
Demand for devil's food whipped- cream layer cake at a local pastry shop can be approximated using a Poisson distribution with a mean of six per day. The manager estimates it costs $ 9 to pre-pare each cake. Fresh cakes sell for $ 12. Day-old cakes sell for $ 9 each. What stocking level is appropriate if one-half of the day- old cakes are sold and the rest thrown out?
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