Question: 5- A lightweight jacket can be purchased for $38.50 a unit before the season, and no additional units can be ordered. The jacket will sell
5- A lightweight jacket can be purchased for $38.50 a unit before the season, and no additional units can be ordered. The jacket will sell for $69.95 during the season, and any left over at the end of the season will be priced at $26.95. The probability distribution of demand during the season is estimated by the store’s buyer to be normally distributed with a mean of 160 and a standard deviation of 45. How many jackets should the buyer order to earn the maximum expected profit?
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