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A small business woman makes a Christmas gift basket which she sells during December and she wants to determine how many gift baskets to
A small business woman makes a Christmas gift basket which she sells during December and she wants to determine how many gift baskets to make for the current Christmas season. It costs $40 to prepare a Christmas gift basket and it is sold for $60. The gift baskets are typically sold in December. Gift baskets left unsold at the end of December are sold for $15 each. How many gift baskets should the woman prepare at the beginning of December, assuming that the demand for the month can be described by the following probability distribution? | DL 200 220 300 320 340 f(D) 0.1 0.2 0.4 0.2 0.1|
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