How many trains that he should make to minimize the cost

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Mike is getting ready to make some wooden trains for the holiday season. Each train set will cost him $20 to make. He will be able to sell the train set at $40 each. If there are any unsold train sets after the holiday season, he believes that all can be sold at $5 each. Suppose that the demand follows a normal distribution with the expected demand to be 100 and the standard deviation of 10, how many trains that he should make to minimize the cost.

Reference no: EM132217233

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