Find out the optimum number of items

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A stockiest of a particular commodity makes a profit of Kshs. 30 on each sale made within the same week of purchase; otherwise he incurs a loss of Kshs. 30 on each item. The data on the past sales are given below:

No. of Items sold within the same week 5 6 7 8 9 10 11

Frequency 0 9 12 24 9 6 10

a. Find out the optimum number of items the stockiest should buy every week in order to maximize the profit b. Calculate the expected value of perfect information

Reference no: EM133092496

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