Mathematics, 31.07.2020 18:01 XynonAdat
Wholemark is an internet order business that sells one popular New Year greeting card once a year. The cost of the paper on the which the card is printed is $0.05 per card, and the cost of printing is $0.15 per card. The company receives $2.15 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from the each of the four regions is normally distributed with mean 2,000 and standard deviation of 500. (Assume these four are independent.) What is the optimal production quality for the card? (Use Excel's NORMSINV{} function to find the Z-score. Round intermediate calculations to four decimal places. Submit your answer to the nearest whole number.)
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Wholemark is an internet order business that sells one popular New Year greeting card once a year. T...
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