Newsvendor model – Best Nursing Tutor

Newsvendor model – Best Nursing Tutor

Please show all work by hand!
Consider a newsvendor problem in which the demand for a product takes on values of 10, 15, 20, 25,
or 30 units, with probabilities 0.15, 0.25, 0.2 0.15, and 0.25 respectively. Assuming a unit cost of $5
per product, a selling price of $9 per product, and a salvage cost of $3 per product, determine theoptimal number of units to purchase to maximize the average profit. Sketch the objective function for
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