Daily demand can be approximated by a normal distribution, Operation Management

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Daily demand can be approximated by a normal distribution

Joe must decide how much ice-cream to stock in his ice-cream truck that he drives around Grand Blanc, MI. Ice cream sells for $7 per lb (pound) and costs $3 per lb. At the end of the day any unsold ice-cream must be discarded as it has melted. Daily demand can be approximated by a normal distribution with a mean of 99 lbs and standard deviation of 31 lbs. What is the optimal stocking level ?

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Operation Management: Daily demand can be approximated by a normal distribution

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