Chime-A-Verse (CAV) is a Taiwanese manufacturer of custom alarm clocks that recite verses as wake-up call.CAV is the sole supplier for Vazood-E-Muhammad (VEM), a Saudi retailer who sells alarm clocks reciting verses from Holy Quran to visitors in Mecca during the month of Ramadan.VEM must order these upscale designer clocks from CAV several months in advance.At the time of ordering the demand is uncertain and is estimated to be Normally distributed with a mean and standard deviation of 1000 and 300, respectively. VEM buys each clock at a wholesale price of 50 Riyals and sells it at a retail price of 100 Riyals.Excess clocks are sold at a discount price of 20 Riyals each after Id-ul-Fitr, the end of the Ramadan season.CAV spends NT$235(30 Riyals) to manufacturer and ship a clock to Mecca.

Question:

Do you believe that the current wholesale price of 50 Riyals maximizes the expected profit for CAV?If not, what wholesale price would you recommend?