The Monday demand for almond croissants is normally distributed with a mean of 100 and a standard
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The Monday demand for almond croissants is normally distributed with a mean of 100 and a standard deviation of 25. It costs $1.00 to produce a croissant, which sells for $4.00. Leftover croissants must be disposed of at a cost of $0.40 each. The bakery is considering producing 80, 100, 120, or 140 croissants. Use a Monte Carlo simulation to determine the order quantity that maximizes the bakery’s expected profit.
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To determine the order quantity that maximizes the bakerys expected profit we can use Monte Carlo si...View the full answer
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Microsoft Excel Data Analysis And Business Modeling
ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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