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Industry 4.0 · End Term · 13 Apr 2025 · January 2025 term · Set 1

Question 24: How many copies should the owner stock each morning, ass…

Question 24

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The owner of a newsstand wants to determine the number of newspapers of USA Now to be stocked at the start of each day. The owner pays 30 cents for a copy and sells it for 75 cents. The sale of the newspaper typically occurs between 7:00 and 8:00 am. Newspaper left at the end of the day are recycled for an income of 5 cents a copy. How many copies should the owner stock every morning, assuming that the demand for the day can be described as: Based on the above data, answer the given subquestions.

How many copies should the owner stock each morning, assuming that the daily demand follows a normal distribution with a mean of 300 copies and a standard deviation of 20 copies? [Standard_Norm_inv(critical fractile)=0.643]

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Question 24 of 32 in the IIT Madras BS Industry 4.0 (Industry 4.0) End Term paper sat on 13 Apr 2025, in the January 2025 term (IIT M IMPROVEMENT FN EXAM QIM2 13 Apr). It carries 2 marks.

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