The manager of a bakery orders three 'cake-to-go' wedding cakes every Saturday to accommodate last-minute purchases. Demand
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The manager of a bakery orders three 'cake-to-go' wedding cakes every Saturday to accommodate last-minute purchases. Demand for the cakes can be described by a Normal distribution that has a mean of 200 and a standard deviation of 10. The cakes cost $10 each to prepare, and they sell for $15 each. Any cakes that haven't been sold by the end of the day are sold for half price the next day. What stocking level would be appropriate?
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