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3. Each day, Big Boat Flowers, a floral retailer, stocks fresh-cut calla lilies. Each flower costs $0.40 and sells for $1.00. Big Boat Flowers never

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3. Each day, Big Boat Flowers, a floral retailer, stocks fresh-cut calla lilies. Each flower costs $0.40 and sells for $1.00. Big Boat Flowers never reduces the selling price. At the end of each day, any unsold calla lilies are given to a nearby church. Big Boat Flowers estimates daily demand characteristics as follows: Demand (units) Probability 0 5% 100 20% 200 40% 300 25% 400 10% I a. How many calla lilies should Big Boat Flowers purchase each day to maximize expected daily operating income? b. What is the maximum amount of money that Big Boat Flowers should be willing to pay for an information system that reveals the exact demand for the day

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