Question: J 2 A product has a uniformly distributed random demand [0,1,2,...,N]. Each product sold produces a profit of p dollars, and each product not sold

J 2

A product has a uniformly distributed random demand [0,1,2,...,N]. Each product sold produces a profit of p dollars, and each product not sold produces a loss of l dollars. How many of these should be produced to maximize expected profit?

Check your answer given that for N=5, p=$40 and l = $10 the number of products to be produced is 4.

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