Question: Question 12 1 points SAVE ANSWER Cream Cakes makes and sells cakes daily. Based on past experience the owner has estimated the following probabilities for

Question 12 1 points SAVE ANSWER Cream Cakes

Question 12 1 points SAVE ANSWER Cream Cakes makes and sells cakes daily. Based on past experience the owner has estimated the following probabilities for the daily demand for fresh cream cakes: Daily Demand (cakes) 30 40 50 60 70 Probability 0.1 0.2 0.3 0.3 0.1 The cakes cost $12 to make and are sold for $22 per cake. Cream Cakes believes a lot of their success is because they only sell fresh cakes. Any cakes unsold at the end of the day is mashed up and sold to the local piggery for $7.00 If the proprietor follows the criterion of regret, how much would be ordered daily? O a. 30 cakes per day b. 40 cakes per day C. 60 cakes per day d. 70 cakes per day

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