Determine order to maximize profits

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Reference no: EM13112500

A summer sports wear retailer has a very short selling season, so only gets one chance to order each of his goods. One of these has a history of selling an average of 200 items, with a standard deviation of 20. If he wants to maximize his profits, how many should he order? He buys the item for $30 and sells it for $75. After the season, he can sell what is left to a discount house for $20.

Reference no: EM13112500

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