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A manufacturer of lawn care equipment has introduced a new product. The anticipated demand is normally distributed witha mean of 100 and a standard deviation
A manufacturer of lawn care equipment has introduced a new product. The anticipated demand is normally distributed witha mean of 100 and a standard deviation of 5-50. Each unit costs $75 to manufacture and the introductory price is to be $125 to achieve this level of sales. Any unsold units at the end of the season are unlikely to be very valuable and will be disposed of in a fire sale for $25 each. It costs $10 to hold a unit in inventory for the entire season. What is the expected profit? O 1023 O 3927 5968 0 4867 2820
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