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7) Skinner’s Fish Market buys fresh Boston bluefish daily for $4.20 per pound and sells it...

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Basic Math

7) Skinner’s Fish Market buys fresh Boston bluefish daily for$4.20 per pound and sells it for $5.70 per pound. At the end ofeach business day, any remaining bluefish is sold to a producer ofcat food for $2.40 per pound. Daily demand can be approximated by anormal distribution with a mean of 47 pounds and a standarddeviation of 16 pounds. What is the optimal stocking level? Roundyour answer to 2 decimal places.

Answer & Explanation Solved by verified expert
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SOLUTIONFrom given data7 SkinnersFish Market buys fresh Boston bluefish daily for 420 per poundand sells it for 570 per pound At the end of each business dayany remaining bluefish is sold to a producer of cat food    See Answer
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