Joe must decide how much ice-cream to stock in his ice-cream truck that he drives around...
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Joe must decide how much ice-cream to stock in his ice-cream truck that he drives around Grand Blanc, MI. Ice cream sells for $9.3 per lb (pound) and costs $3.2 per lb. At the end of the day any unsold ice-cream must be discarded as it has melted. Daily demand can be approximated by a normal distribution with a mean of 100 lbs and standard deviation of 17 lbs. What is the optimal stocking level? (Round your answer to 2 decimal places) Joe must decide how much ice-cream to stock in his ice-cream truck that he drives around Grand Blanc, MI. Ice cream sells for $9.3 per lb (pound) and costs $3.2 per lb. At the end of the day any unsold ice-cream must be discarded as it has melted. Daily demand can be approximated by a normal distribution with a mean of 100 lbs and standard deviation of 17 lbs. What is the optimal stocking level? (Round your answer to 2 decimal places)
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