Popular newsstand in a large metropolitan area

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Q. A popular newsstand in a large metropolitan area is attempting to find out many copies of the Sunday paper it should purchase each week. Demand for the newspaper on Sundays can be approximated by a Normal distribution with μ = 450 and σ = 100. The newspaper costs the newsstand 50 cents/copy and sells for $2/copy. Any copies which go unsold can be taken to a recycling center which will pay 5 cents/copy.

Reference no: EM1384632

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