12-37

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Problem 12-37 (Algo) A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 38 quarts per day and a standard deviation of 7 quarts per day. Excess costs run 40 cents per quart. The grocer orders 43 quarts per day. Use Table What is the implied cost of shortage per quart? (Round your z value to 2 decimal places, your service level probability to 4 decimal places and your final answer to 2 decimal places.) Shortage cost per quart