Illustrate what is the implied cost of shortage per litre

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Reference no: EM13113236

Q. A small grocery store sells fresh produce, which it obtains from local farmers. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 40 litres per day and a standard deviation of 6 litres per day. An excess cost is 35 cents per litre. The grocer orders 49 litres per day. Illustrate what is the implied cost of shortage per litre?

Reference no: EM13113236

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