Commencement to commemorate the event

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You and a couple of friends from the MBA program decide to sell T-shirts during the Spring MBA Commencement to commemorate the event. The T-shirts sell for $20, and cost $9 to produce. After the commencement weekend, you think you can continue to sell them online but only at $8 per T-shirt. In addition, for each T-shirt you sell online, you will incur a shipping cost of $2. Suppose the demand for shirts can be approximated with a normal distribution and the mean demand is 80 shirts with a standard deviation of 20. How many shirts should you produce?

Reference no: EM132257240

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