How many cod should the manager buy before market opens

Assignment Help Project Management

Reference no: EM131410055

For given Exercise, how many cod should be purchased if leftover fish can be sold to a fertilizer company for 20 cents each?

Exercise
The manager of a fish market pays 60 cents each for cod and sells them for $1.00 each. Fish left over at the end of the day are discarded.

The daily demand can be approximated by a normal distribution having a mean of 300 and a standard deviation of 50. To maximize his expected profit, how many cod should the manager buy before the market opens each day?

Reference no: EM131410055

Questions Cloud

How many programs should the athletic director order : Demand at the game is normally distributed, with μ = 3000 and σ = 500. To maximize expected payoff, how many programs should the athletic director order?

Share of elderly people in modern societies : a) Explain the increasing share of elderly people in modern societies. b) Describe age stratification in global context.

Calculate the concentration of dry alumina in the slip : The density of an aqueous alumina slip is 2.5 kg dm-3.

Describe components of a presentence investigation report : Describe each of the components of a presentence investigation report and why each of those components needs to be included for the judge to make an informed decision as to what sentence would be appropriate for an offender

How many cod should the manager buy before market opens : The daily demand can be approximated by a normal distribution having a mean of 300 and a standard deviation of 50. To maximize his expected profit, how many cod should the manager buy before the market opens each day?

Discuss the limitations of qualitative-quantitative design : Mixed methods designs capitalize on the strengths of qualitative and quantitative designs. For this discussion, briefly describe how the research problem that is the focus of your pre-proposal assignment could be addressed using a mixed methods de..

Current issues of the profession organizational leadership : ENGL 3020 Proposal Explain your profession and describe the problem you have identified and describe some of the other issues that you identified in the State of the Profession essay and explain why you selected the one you did.

How many cod should the manager buy before the market opens : The daily demand can be approximated by a normal distribution having a mean of 300 and a standard deviation of 50. To maximize his expected profit, how many cod should the manager buy before the market opens each day?

Calculate the diameter at 1000 °c : A circular hole in an alumina plate at 20 °C is 1 cm in diameter. Calculate the diameter at 1000 °C. If the density of alumina at 20°C is 3980 kg m3, calculate the density at 1000 °C. Mean coefficient of linear expansion over the temperature range ..

User Account

All Pages