A Fruit Stand Manager Must Decide How Many Pounds of Bananas

question 51

Short Answer

A fruit stand manager must decide how many pounds of bananas to stock weekly.From past records it appears that the demand for bananas is approximately normal with a mean of 1,200 pounds and a standard deviation of 400 pounds.The cost of the bananas is $0.15 per pound and the usual selling price is $0.45 per pound.At the end of each week a hog farmer comes by the fruit stand and purchases any unsold,over-ripened bananas for $0.05 per pound.Calculate the amount of bananas the manager needs to purchase each week to maximize his profit.
____________________ pounds

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Definitions:

Geert Hofstede

A Dutch social psychologist known for his research on cross-cultural groups and organizations, especially for developing the cultural dimensions theory.

Uncertainty Avoidance

A cultural dimension that describes the extent to which a society tolerates ambiguity and uncertainty, favoring clear rules and stability.

Individualism-Collectivism

A dimension of cultural variation that reflects the degree to which a society emphasizes individual goals and self-expression versus group goals and interdependence.

Masculinity-Femininity

A dimension of culture that reflects the distribution of emotional roles between the genders; it contrasts competitiveness versus care and quality of life.