Question

A small drugstore orders copies of a certain magazine for it magazine rack each week. Let X=demand for the magazine,

Ratios, rates, proportions
ANSWERED
asked 2021-01-27
A small drugstore orders copies of a certain magazine for it magazine rack each week. Let X=demand for the magazine, with pmf

\begin{array}{|l|l|}\hline x&1&2&3&4&5&6\\\hline p(x)&\frac{1}{15}&\frac{2}{15}&\frac{3}{15}&\frac{4}{15}&\frac{5}{15}&\frac{6}{15}\\\hline\end{array}

Suppose the store owner actually pays $1.00 for each copy of the magazine and the price to customers is $2.00. If magazines left at the end of the week have no salvage value, is it better to order three or four copies of the magazine?

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2021-01-28

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