Beqala.com is an online grocery store that sells large fresh shrimps to customers in the area of
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Beqala.com is an online grocery store that sells large fresh shrimps to customers in the area of Cairo, Egypt. The cost per kilo of shrimp is E£150 and it is sold at E£280 per kilo. The remaining shrimps at the end of the day are sold to a local restaurant for E£85 per kilo. The store has estimated the daily demand of shrimps to be normally distributed, with a mean of 400 kilos and a standard deviation of 60 kilos. Compute the optimal stocking level for shrimps.
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The optimal stock is E400 kg Beqalacoms profit maximization is achieved by stock...View the full answer
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