Sam Jones buys perishable products at the start of each day. Each morning any products that...
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Sam Jones buys perishable products at the start of each day. Each morning any products that are left from the previous day are sold greatly discounted to a second-tier seller who in turn resells it at an even lower price. Sam can buy fresh product for $11.00 a box and resell it while still fresh for $25.00 a box. If it doesn't sell that day, the second-tier seller will pay Sam $3.00 a box. It's expected that there will be mean demand for 265 fresh boxes with a standard deviation of 42 boxes. How many boxes of products should Sam purchase? Go to at least four decimal places for intermediate calculations (so 0.74635 is rounded to 0.7464). Round your answer to the nearest whole number. Number of boxes Sam Jones buys perishable products at the start of each day. Each morning any products that are left from the previous day are sold greatly discounted to a second-tier seller who in turn resells it at an even lower price. Sam can buy fresh product for $11.00 a box and resell it while still fresh for $25.00 a box. If it doesn't sell that day, the second-tier seller will pay Sam $3.00 a box. It's expected that there will be mean demand for 265 fresh boxes with a standard deviation of 42 boxes. How many boxes of products should Sam purchase? Go to at least four decimal places for intermediate calculations (so 0.74635 is rounded to 0.7464). Round your answer to the nearest whole number. Number of boxes
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To determine the number of boxes Sam should purchase we need to consider the expected demand for fre... View the full answer
Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date:
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