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    Probability

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    Jason must decide how many cases of cheese to manufacture each month. The probability that the demand will be 6 cases is 0.1, for 7 cases is 0.3, for 8 cases is 0.5, and for 9 cases is 0.1. The cost of each case is $45 and the price Jason gets for each case is $95. Any case not sold by the end of the month is of no value due to spoilage. How many case of cheese should Jason manufacture each month?

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    https://brainmass.com/statistics/probability/determining-amount-cheese-manufacture-95487

    Solution Summary

    Solution contains calculations of number of case of cheese should Jason manufacture each month.

    $2.19

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