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Lakeside Bakery bakes fresh ples every morning. The daily demand for its apple ples is a random variable with (discrete) distribution, based on past experience,
Lakeside Bakery bakes fresh ples every morning. The daily demand for its apple ples is a random variable with (discrete) distribution, based on past experience, given by Each apple pie costs the bakery $10.50 to make and is sold for $27. Unsold apple ples at the end of the day are purchased by a nearby soup kitchen for 85 cents each. Assume no goodwill cost. a. If the company decided to bake 13 apple ples each day, what would be its expected profit? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. Based on the demand distribution above, how many apple pies should the company bake each day to maximize its expected profit
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