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Identify the best quantity to bake per day

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Reference no: EM133180745

Question - Mrs Cookies bakes 90 boxes of cookies for sale every day. The cost of baking a box of cookies is normally distributed with a mean of $25 and a standard deviation of 4.6. Each box sells for $85.

The expected demand typically varies between 85 and 97 boxes of cookies per day. Any leftover cookies at the end of the day are donated to a food bank.

Identify the best quantity to bake per day using a simulation with 200 trials and compute summary statistics to analyse this best quantity to bake and explain the results.

Reference no: EM133180745

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