Solution-Construct the decision table of conditional payoffs

Construct the decision table of conditional payoffs

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Reference no: EM131158726

Daily sales of bread by Salvador Monella's Baking Company follow the historical pattern shown in the table below. It costs the bakery 50 cents to produce a loaf of bread, which sells for 95 cents. Any bread unsold at the end of the day is sold to the parish jail for 25 cents per loaf. Construct the decision table of conditional payoffs. How many loaves should Sal bake each day in order to maximize contribution?

Demand	400	500	600	700	800
Probability	.20	.20	.40	.15	.05

Reference no: EM131158726

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Construct the decision table of conditional payoffs

Reference no: EM131158726

Reference no: EM131158726

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