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please include the formulas and the inputs in the formulas for how you got your answers. Problem 4. (10 points) Milk is stocked at a
please include the formulas and the inputs in the formulas for how you got your answers.
Problem 4. (10 points) Milk is stocked at a grocery store each week. At the end of each week, price of unsold milk is reduced by 30% and the store can sell the unsold milk fully at this lower price. If weekly demand for milk is normally distributed with a mean of 240 gallons and standard deviation of 25 gallons, find the price for which a fresh gallon of milk sells. Assume that the store has a service level of 90% and purchases milk for $3.65 per gallonStep by Step Solution
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