Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Transcribed Image Text:QUESTION 6
The Crestview Printing Company prints a particularly popular Chnistmas card once a year and distributes the cards to stationery and gift shops
throughout the United States. It costs Crestview 20 cents to print each card, and the company receives 65 cents for each card sold Because the
cards have the current year printed on them, those cards that are not sold are generally discarded. Based on past experience and forecasts of
current buying patterns, the probability distribution of the number of cards to be sold nationwide for the next Christmas season is estimated to be
Quantity
(Thousands)
Probability
125
175
225
275
325
375
425
0.10
015
0 25
0.2
0,15
0.10
0.05
Determine the number of cards in thousands that Crestview should print this year.
257.5
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