What is the probability that you will run out of stock

Reference no: EM13284126

You are a newspaper vendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day%u2019s paper for $0.25 a copy. You sell a copy of San Pedro Times for $1.00. Daily demand is distributed normally with mean = 250 and standard deviation =.50. At the end of each morning, any leftover copies are worthless and they go to a recycle bin.

a) How many copies of San Pedro Times should you buy each morning?

b) Based on a, what is the probability that you will run out of stock?

Reference no: EM13284126

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