Mathematics
Mathematics, 30.03.2020 23:52, lizzy2951

A biotechnology manufacturing firm can produce diagnostic test kits at a cost of $20. Each kit for which there is a demand in the week of production can be sold for $200. However, the half-life of components in the kit requires the kit to be scrapped if it is not sold in the week of production. The cost of scrapping the kit is $5. The weekly demand is summarized as follows: Weekly DemandNumber of units 0 50 100 200Probabitly ofDemand 0.05 0.4 0.3 0.25 How many kits should be produced each week to maximize the firm's mean earning?

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A biotechnology manufacturing firm can produce diagnostic test kits at a cost of $20. Each kit for w...

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