What is the implied cost of shortage per quart

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A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 44 quarts per day and a standard deviation of 4 quarts per day. Excess costs run .30 cents per quart. The grocer orders 50 quarts per day.

a. What is the implied cost of shortage per quart?

Reference no: EM13899626

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