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Business, 14.05.2021 02:20 davisparker5269

Mr. Kim operates a news-stand. He orders copies of newspapers from the publisher at a cost of $4 per copy. From many years of sales experience, he learned that the demand for newspapers depend on the price. In particular, he has discovered that the demand can be described with a normal distribution with mean 100-p and standard deviation 12. 1. How many copies should he order every day?
2. How much should Mr. Sho order if he wants to ensure a minimum service level of 70%?

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Mr. Kim operates a news-stand. He orders copies of newspapers from the publisher at a cost of $4 per...

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