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Question
Milk is stocked at the grocery store each week. At the end of the week unsold milk is reduced in price by 70% and always sells for this lower price instantly. If weekly demand for milk is normally distributed with a mean of 200 gallons and standard deviation of 25 gallons, find the price for which a fresh gallon of milk sells. Assume a service level of 95% and that the store purchases milk for $2 per gallon.
Answer
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Weight Day
Package 1
Package 2
Package 3
Package 4 Monday
23
22
23
24 Tuesday
23
21
19
21 Wednesday
20
19
20
21 Thursday
18
19
20
19 Friday
18
20
22
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Answer:
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