Henry has a newspaper stand where he sells them for 050


Henry has a newspaper stand where he sells them for $0.50 each. The papers cost him $0.30 each, giving him a $0.20 profit on each one he sells. From past experiences, he knows that:

20% of the time he sells 100 papers

20% of the time he sells 150 papers

30% of the time he sells 200 papers

30% of the time he sells 250 papers

Assuming that Henry believes the cost of lost sale is $0.10 and any unsold paper costs him $0.30, simulate Henry’s profit outlook over five days if he orders 200 papers for each of the 5 days. Use random numbers: 52, 06, 50, 88, and 53

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Operation Management: Henry has a newspaper stand where he sells them for 050
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