A company manufactures 30 units per day. The sale of these items depends upon demand which has
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A company manufactures 30 units per day. The sale of these items depends upon demand which has the following distribution:
The production cost and sale price of each unit are Rs 40 and Rs 50, respectively. Any unsold product is to be disposed off at a loss of Rs 15 per unit. There is a penalty of Rs 5 per unit if the demand is not met.
Using the following random numbers, estimate the total profit/loss for the company for the next ten days:
10, 99, 65, 99, 95, 01, 79, 11, 16, 20 If the company decides to produce 29 units per day, what is the advantage or disadvantage of the company?
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