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Solve the newsvendor problem. Probability 0.21 0.18 0.14 0.12 0.20 0.15 Value 1 2 3 4...

Solve the newsvendor problem.

Probability 0.21 0.18 0.14 0.12 0.20 0.15
Value 1 2 3 4 5 6
Purchase cost c = 47
Selling price p = 55
Salvage value v = 20

What is the optimal order quantity?

  Optimal order quantity   
Business   Operations-Management   
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