A professional baseball organization chooses to sell game day programs. A. Deman

Question

A professional baseball organization chooses to sell game day programs.

A. Demand for game day programs priced at $4 is normally distributed with a mean of 2,000 and standard deviation of 30. If the marginal loss is $1 and the marginal profit is $3, how many programs should the basebalL organization print?

B. if the price is increased to $5 the mean demand is reduced to 1,800 and the standard deviation is still 300. At this price the marginal loss is $1 and the marginal profit is $4. How many programs should the baseball organization print?

Explanation / Answer

A. 43 programs B. 24 programs

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