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Question 2 (Normally Distributed Demand) The Supermarket Store is about to place an order for Halloween candy. One best-selling brand of candy can be purchased
Question 2 (Normally Distributed Demand) The Supermarket Store is about to place an order for Halloween candy. One best-selling brand of candy can be purchased at $1.50 per box before and up to Halloween. After Halloween, all the remaining candy can be marked down and sold for $0.75 per box. Assume that the loss in goodwill "cost" stemming from customers whose demand is not satisfied is $0.75. The store is considering a price per box (p) of $4,$5,$6, and $7. Recognizing that demand is price dependent, through market research the store determines that demand is normally distributed such that if: (a) p=$4, mean ==50, and standard deviation ==20; (b) p=$5, mean ==45 and standard deviation ==25; (c) p=$6, mean ==35, and standard deviation ==30; and (d) p=$7, mean ==25, and standard deviation ==35. For each sales price, complete the following table
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