Question: Problem 13-38 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

Problem 13-38 Demand for devil's food

Problem 13-38 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 six per day. The manager estimates it costs $9 to prepare each cake. Fresh cakes sell for $12. Day-old cakes sell for $9 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

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