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A florist is trying to decide how many bouquets of fresh flowers to cut for each...

A florist is trying to decide how many bouquets of fresh flowers to cut for each day. Any flowers cut and not sold during the day are thrown away. The variable cost of growing and cutting flowers is $4 per bouquet, and the price is $6 per bouquet. The following demand distribution has been observed in the past:

Number of Bouquets                                      Probability

45                                                                .1

50                                                                .2

55                                                                .4

60                                                                .2

65                                                                .1

The florist would like to evaluate policies of cutting 55 and 60 bouquets each day.

a. Simulate each policy for 20 days.

b. Which policy maximizes profit?

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