Homework Assignment | My Assignment Tutor

Homework Assignment No 41. From Simulation Lecture 10, We studied the News Vendor problem Slide 26. The example worksthe problem based on a purchase of 70 papers.a. Simulate 30 days and report the average profit.2. A baker is trying to figure out how many dozens of bagels to bake each day. The probabilitydistribution of the number of bagel customers is as follows:Customers order 1, 2, 3, or 4 dozen bagels according to the following probability distributionBagels sell for $8.40 per dozen. They cost $5.80 per dozen to make. All bagels not sold at the end of theday are sold at half-price to a local grocery store. Based on 10 days of simulation, how many dozenbagels should be baked each day3. Number ofCustomers/DayProbability80.35100.30120.25140.10 Number ofDozenOrdered/CustomerProbability10.4020.3030.2040.10


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