What is the cost of underestimating demand for each program

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University of florida football programs are printed 1 week prior to each home game. Attendance averages 60,000 screaming and loyal Gator fans, of which two-thirds usually buy the program, following a normal distribution, for 4 each. Unsold programs are sent to a recycling center that pays only 10 cents per program. The standard deviation is 5000 programs and the cost to print each program is 2. Refer to the standard normal table for z values. What is the cost of underestimating demand for each program?

Reference no: EM13845652

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