Question: Demand for devil's food whipped cream layer cake at a local pastry shop can be approximated using a Poisson distribution with a mean of 5

Demand for devil's food whipped cream layer cake

Demand for devil's food whipped cream layer cake at a local pastry shop can be approximated using a Poisson distribution with a mean of 5 per day. The manager estimates it costs $12 to prepare each cake. Fresh cakes sell for $17. Day-old cakes sell for $11 each What stocking level is appropriate if one-half of the day-old cakes are sold and the rest thrown out? Use Table C. Stocking level cakes N

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