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Janet's Bouquets stocks fresh-cut flower bouquets on a weekly basis that sell for $60 each and have a purchase cost of $30 per dozen.
Janet's Bouquets stocks fresh-cut flower bouquets on a weekly basis that sell for $60 each and have a purchase cost of $30 per dozen. Unsold week-old bouquets are reduced in price to $20 each and are always completely sold without affecting the current week's demand for fresh-cut bouquets. Janet, the owner of the flower shop, estimates weekly demand characteristics for fresh-cut bouquets as follows: Demand (bouquets) Demand Probability 75 0.1 80 0.2 85 0.3 90 0.3 95 0.1 Required: How many bouquets should Janet's Bouquets order each week to maximize net income? Support your decision by preparing an appropriate payoff table. Janet's Bouquets should purchase bougets
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