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Cyrus, the manager of New York University bookstore, wants to order T-shirts to celebrate their end of semester. Based on his experience, he estimates his

Cyrus, the manager of New York University bookstore, wants to order T-shirts to celebrate their end of semester. Based on his experience, he estimates his demand distribution as follows.

Demand (units of T-shirts) (column 1 ) Probability (column 2)

80 0.30

81 0.25

90 0.10

100 0.10

110 0.25

Cyrus plans to sell the T-shirts for $30 each. He pays his supplier $15 for each shirt and can sell any unsold shirts at $10 each. Determine how many T-shirts Cyrus should order to maximize his expected profit. Calculate the profit for the optimal quantity order.

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