Question: A foundry receives an order for three custom designed castings. The customer will pay $40,000 for each of three good castings. The customer will accept

A foundry receives an order for three custom

A foundry receives an order for three custom designed castings. The customer will pay $40,000 for each of three good castings. The customer will accept neither fewer no more than four castings. It will cost $15,000 to produce each casting. Each casting is produced independently, the probability of a casting being good is estimated to be 0.95 write the cost Revenue and profit equations. How many castings should be produced? (Non-anonymous question) (5 Points)

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