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How many magazines should the store buy of each issue

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Question - A book and paper store distributes one specialized monthly magazine. When looking at the sales the last years, they have concluded that each issue of the magazine will sell between 1 and 20 copies and the probability is equal for each of these possibilities. The purchase price for the magazine is 30 kr. and the sales price is 80 kr. The store has an agreement with a second-hand store that buys unsold magazines for 10 kr. each. How many magazines should the store buy of each issue to maximize the profit over time?

Reference no: EM133051850

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