The cafeteria offers scones for $1.5 each from 8 am to 3 pm. The scones are...

 

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The cafeteria offers scones for $1.5 each from 8 am to 3 pm. The scones are ordered from their supplier at the start of each day and delivered before the store opens. The supplier charges 75 cents per scone. If at 3 pm, some scones are left unsold, the cafeteria people sell off the remaining scones for 50 cents each. Assume that all leftover scones are always sold by 4 pm when the cafeteria closes. If a customer asks for a scone before 3 pm but the cafeteria has run out, the customer always buys a bag of chips for $1 instead (after 3 pm, the customer does not buy anything instead). Assume the chips are always in stock and they are purchased from the same supplier for 40 cents each. Demand for scones before 3 pm at the cafeteria is variable but can only take values between 40 and 50, with probabilities given in the following table. A. Yesterday, the cafeteria ordered 45 scones, and 40 customers came wanting to buy a scone between 8 am and 3 pm. What was their profit, including, if any, the profit on chips sold instead of scones? Number of customers 40 41 42 43 44 45 46 47 48 49 50 Probability 0.05 0.05 0.15 0.2 0.15 0.1 0.1 0.1 0.05 0.025 0.025 Cumulative Probability The cafeteria offers scones for $1.5 each from 8 am to 3 pm. The scones are ordered from their supplier at the start of each day and delivered before the store opens. The supplier charges 75 cents per scone. If at 3 pm, some scones are left unsold, the cafeteria people sell off the remaining scones for 50 cents each. Assume that all leftover scones are always sold by 4 pm when the cafeteria closes. If a customer asks for a scone before 3 pm but the cafeteria has run out, the customer always buys a bag of chips for $1 instead (after 3 pm, the customer does not buy anything instead). Assume the chips are always in stock and they are purchased from the same supplier for 40 cents each. Demand for scones before 3 pm at the cafeteria is variable but can only take values between 40 and 50, with probabilities given in the following table. A. Yesterday, the cafeteria ordered 45 scones, and 40 customers came wanting to buy a scone between 8 am and 3 pm. What was their profit, including, if any, the profit on chips sold instead of scones? Number of customers 40 41 42 43 44 45 46 47 48 49 50 Probability 0.05 0.05 0.15 0.2 0.15 0.1 0.1 0.1 0.05 0.025 0.025 Cumulative Probability

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1 The number of scones sold before 3 pm Since 40 customers came wanting to buy a scone we can assume ... View the full answer