Distribution of the number of bagel customers

Reference no: EM13174575

A baker wants to know how many dozens of bagels to bake each day in order to maximize pro?t. For any given day, the probability distribution of the number of bagel customers is given by
Customers (C) 8 9 10 11 12
Probability 0.30 0.3 0.25 0.10 0.05
Moreover, customers order 1,2,3, or 4 dozen bagels according to the following probability
distribution.
Number of Dozen (D) 1 2 3 4
Probability 0.35 0.3 0.25 0.10
Bagels sell for $8.40 per dozen. They cost $5.80 per dozen to make.

Reference no: EM13174575

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