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You are a newsvendor selling San Pedro Times every morning. Before
you get to work, you go to the printer and buy the day’s paper for $0.25
a copy. You sell a copy of San Pedro Times for $1.00. Daily demand is
distributed normally with mean = 250 and standard deviation = 50. At the
end of each morning, any leftover copies are worthless and they go to a
recycle bin.
a. How many copies of San Pedro Times should you buy each morning?
b. Based on a , what is the probability that you will run out of stock?
