A baker is trying to figure out how many dozens of bagels to bake each day....

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A baker is trying to figure out how many dozens of bagels to bake each day. The probability distribution of the number of bagel customers is as follows: Number of Customers/Day 8 10 12 14 Probability 0.35 0.30 0.25 0.10 Customers order 1, 2, 3, or 4 dozen bagels according to the following probability distribution. Number of Dozen Ordered/Customer 2. 3 4. Probability 0.4 0.3 0.2 0.1 Bagels sell for $8.40 per dozen. They cost $5.80 per dozen to make. All bagels not sold at the end of the day are sold at half-price to a local grocery store. Based on 5 days of simulation, how many dozen (to the nearest 5 dozen) bagels should be baked each day? A baker is trying to figure out how many dozens of bagels to bake each day. The probability distribution of the number of bagel customers is as follows: Number of Customers/Day 8 10 12 14 Probability 0.35 0.30 0.25 0.10 Customers order 1, 2, 3, or 4 dozen bagels according to the following probability distribution. Number of Dozen Ordered/Customer 2. 3 4. Probability 0.4 0.3 0.2 0.1 Bagels sell for $8.40 per dozen. They cost $5.80 per dozen to make. All bagels not sold at the end of the day are sold at half-price to a local grocery store. Based on 5 days of simulation, how many dozen (to the nearest 5 dozen) bagels should be baked each day?

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PROBABILITY OF CUSTOMERS 8x03510x03... View the full answer