Which you sell at the local market each weekend

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Reference no: EM131275961

You raise chickens that lay eggs which you sell at the local market each weekend. At the end of the weekend you donate any eggs that you don't sell to the local food pantry for free. You sell a dozen eggs for $4, adn a dozen eggs cost you $1 to "produce." Assume that each chicken lays one dozen eggs each week. You currently have 100 chickens. Historically, you have sold an average of 80 dozen eggs each weekend, with a standard deviation of 19 dozen.

Part 1: In order to optimize your profits, should you make no change to, increase, or decrease the size of your folk? And if so, by how many chickens?

Part 2: A grocery store approaches you and offers to buy you unsold eggs for $.90 per dozen. Assuming you have not changeed the size of your folk (still have 100 chickens), now what figure should you increase or decrease your focl size to?

Reference no: EM131275961

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