Question: A young entrepreneur will be operating a firecracker stand for the Fourth of July. He has time to place only one order for the firecrackers

A young entrepreneur will be operating a firecracker stand for the Fourth of July. He has time to place only one order for the firecrackers he will sell from his stand. After obtaining the relevant financial data and some information with which to estimate the probability of potential sales, he now needs to determine how many firecracker sets he should order to maximize his expected profit under different scenarios.

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