Question: Solve the newsvendor problem. Probability Value 0.24 0.14 0.10 2 1 3 Purchase cost c = 37 Selling price p = 45 Salvage value

Solve the newsvendor problem. Probability Value 0.24 0.14 0.10 2 1 3 Purchase cost c = 37 Selling price p = 45 Salvage value v = 20 What is the optimal order quantity? Optimal order quantity 0.23 4 0.13 5 0.16 6

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