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A supermarket bakery must decide how many birthday cakes to prepare for the upcoming weekend. Cakes cost INR 5 0 0 each, and they sell
A supermarket bakery must decide how many birthday cakes to prepare for the upcoming weekend. Cakes cost INR each, and they sell for INR each. Unsold cakes are reduced to halfprice on Monday; typically, twothirds are sold. Any that remain are donated to an orphanage. The demand data over the past four months is indicated in the following table. How many cakes should be prepared to maximize expected profit?A supermarket bakery must decide how many birthday cakes to prepare for the upcoming weekend.
Cakes cost INR each, and they sell for INR each. Unsold cakes are reduced to halfprice
on Monday; typically, twothirds are sold. Any that remain are donated to an orphanage. The
demand data over the past four months is indicated in the following table. How many cakes should
be prepared to maximize expected profit?
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