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You are a news vendor selling the FTU Daily Times every morning. Before you get to...

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Basic Math

You are a news vendor selling the FTU Daily Times every morning.Before you get to work, you go to the printer and buy the day’spaper for $0.35 a copy. You sell a copy of the Sun Times for $1.20.Daily demand is distributed normally with mean = 300 and standarddeviation = 75. At the end of each morning, any leftover copies areworthless and they go to a recycle bin. How many copies of the FTUTimes should you buy each morning? Based on part (a), what is theprobability that you will run out of stock?

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