Question: Problem 2: (40 points) Every year in early October Steven King buys pumpkins of one size from a farmer in Maine and then hires an

Problem 2: (40 points) Every year in early

Problem 2: (40 points) Every year in early October Steven King buys pumpkins of one size from a farmer in Maine and then hires an artist to carve bewitching faces in them. He then tries to sell them at his produce stand in a public market in Boston The farmer charges Steven $1.50 per pumpkin and the artist is paid $2.00 per carved pumpkin. Steven sells a carved pumpkin for $15.00. Any pumpkins not sold by 5:00p.m. on Halloween are donated to Steven's favorite children's hospital. Steven pays the artist $1.00 per pumpkin to rush the pumpkins to the hospital for the youngsters to enjoy. Steven estimates the demand for his pumpkins this season to be approximately normally distributed with mean of 100 units and a standard deviation of 40 units. (a). How many pumpkins should Steven have available for sale? (30 points) (b). How likely Steven will experience a stock-out if he orders the amount you recommended in (a)? (10 points)

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