Exercise for Uncertain Demand

| November 28, 2016

Question
Exercise for Uncertain Demand

In a given period demand for an item is equally likely to be any value between

100 and 199 units. Each unit of the item costs £75 and can be sold for £100. At

the end of the period all unsold stock is passed to a recycler who pays £25 a

unit. How many units would you buy for the period?

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