A perishable dairy product is ordered daily at a particular
supermarket. The product, which costs $1.2 per unit, sells for
$1.64 per unit. If units are unsold at the end of the day, the
supplier takes them back at a rebate of $1 per unit. Assume that
daily demand is approximately normally distributed with µ
= 145 and σ = 30.
Note: Use Appendix B to identify the areas for the standard normal distribution.
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