Question Solved1 Answer A baker is trying to figure out how many dozens of bagels to bake each day. The probability distribution of the number of bagel customers is as follows: Number of Customers/Day Probability 8 0.35 10 0.30 12 0.25 14 0.10 Customers order 1, 2, 3, or 4 dozen bagels according to the following probability distribution Number of Dozen Ordered/Customer Probability 1 0.40 2 0.30 3 0.20 4 0.10 Bagels sell for $8.40 per dozen. They cost $5.80 per dozen to make. All bagels not sold at the end of the day are sold at half-price to a local grocery store. Based on 10 days of simulation, how many dozen bagels should be baked each day? Could you please use Excel and random number generation?!

VFSIUN The Asker · Management
  1. A baker is trying to figure out how many dozens of bagels to bake each day. The probability distribution of the number of bagel customers is as follows:

Number of Customers/Day

Probability

8

0.35

10

0.30

12

0.25

14

0.10

Customers order 1, 2, 3, or 4 dozen bagels according to the following probability distribution

Number of Dozen Ordered/Customer

Probability

1

0.40

2

0.30

3

0.20

4

0.10

Bagels sell for $8.40 per dozen. They cost $5.80 per dozen to make. All bagels not sold at the end of the day are sold at half-price to a local grocery store. Based on 10 days of simulation, how many dozen bagels should be baked each day? Could you please use Excel and random number generation?!

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MLGRVP The First Answerer
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Apologies for being unable to attempt on the excel however Ihope you will like the solution and will support me by giving anupvote!Please find the answer below:{:[" Expected Customer "=sum P(x)**V ... See the full answer