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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
30.  You have a one-time chance to purchase an item for $5. The item can be sold to cus- tomers for $30. After one day, the item has no salvage value because it becomes rotten at the end of the day. It will then cost you $15 to properly dispose of any unsold items. You think you can sell 1,000 units in one day, but you also know that the standard deviation of demand for the item is 50 units. How many units should you order?
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