Avalon bakery statistics question

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Reference no: EM1399859

I don't just want the answer, I need you to show your work so that I know how you got to that conclusion.

Avalon Bakery would like you to recommend how many loaves of its rye bread to bake at the beginning of each day. Each loaf costs the bakery $3.00 and can be sold for $6.00. Leftover loaves at the end of each day are donated to charity. Research has shown the probabilities for demands of 25, 50 and 75 loaves are 35%, 25%, and 40% respectively. Make a recommendation for the number of loaves Avalon should bake.

Reference no: EM1399859

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