Question: Problem 1 1 - 4 ( Algo ) The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that
Problem Algo
The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the previous
day is sold to a dealer that resells it to farmers who use it to feed their animals. This week, the supermarket can buy fresh lettuce for
$ a box. The lettuce is sold for $ a box and the dealer that sells old lettuce is willing to pay $ a box. Past history says
that tomorrow's demand for lettuce averages boxes with a standard deviation of boxes.
How many boxes of lettuce should the supermarket purchase tomorrow?
Note: Use Excel's NORM.SINV function to find the value. Round your answer to the nearest whole number.
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