Mendelev Company is a small producer of several coffee products. One of the products is Kapeng Barrack’o that is sold to retail outlets. Jensen Mendelev must decide how many boxes of the Kapeng Barrack’o to produce each month. The probability that the demand will be six boxes is 0.1, for seven boxes is 0.3, for 8 boxes is 0.5, and for 9 boxes is 0.1. The cost of every box is P400, and the price that Jensen gets for each box is P800. Unfortunately, any boxes not sold at the end of the month are of no value due to spoilage. How many boxes of Kapeng Barrack’o should Jensen produce each month?

Mendelev Company is a small producer of several coffee products. One of the products is Kapeng Barrack’o that is sold to retail outlets. Jensen Mendelev must decide how many boxes of the Kapeng Barrack’o to produce each month. The probability that the demand will be six boxes is 0.1, for seven boxes is 0.3, for 8 boxes is 0.5, and for 9 boxes is 0.1. The cost of every box is P400, and the price that Jensen gets for each box is P800. Unfortunately, any boxes not sold at the end of the month are of no value due to spoilage. How many boxes of Kapeng Barrack’o should Jensen produce each month?

Name: Mendelev Company is a small producer of several coffee products. One o
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Description: Mendelev Company is a small producer of several coffee products. One of the products is Kapeng Barrack’o that is sold to retail outlets. Jensen Mendelev must decide how many boxes of the Kapeng Barrack’o to produce each month. The probability that th

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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