What is optimal order quantity

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Skinner’s Fish Market buys fresh Boston bluefish daily for $4.40 per pound and sells it for $5.50 per pound. At the end of each business day, any remaining bluefish is sold to a producer of cat food for $1.40 per pound. Daily demand can be approximated by a normal distribution with a mean of 160 pounds and a standard deviation of 40 pounds. What is the optimal order quantity?

Reference no: EM131483802

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What is optimal order quantity : Skinner’s Fish Market buys fresh Boston bluefish daily for $4.40 per pound and sells it for $5.50 per pound. What is the optimal order quantity?

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