Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please, give me an answer based on the choices of the questions. Lakeside Bakery bakes fresh pies every morning. The daily demand for its apple
please, give me an answer based on the choices of the questions.
Lakeside Bakery bakes fresh pies every morning. The daily demand for its apple pies is a random variable with (discrete) distribution, based on past experience, given by Demand 5 10 15 20 25 30 Probability 10% 20% 25% 25% 15% 5% Each apple pie costs the bakery $ 6.75 to make and is sold for $ 17.99. Unsold apple pies at the end of the day are purchased by a nearby soup kitchen for 99 cents each. Assume no goodwill cost. 1. If the company decided to bake 10 apple pies each day, what would be the expected profit a. 103.90 b. 134.60 c. 147.90 d. 152.60 e. 172.90
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started