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The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week the supermarket can buy fresh lettuce for $3.00 a box. The lettuce is sold for $15.00 a box and the dealer that sells old lettuce is willing to pay $1.50 a box. Past history says that tomorrow's demand for lettuce averages 250 boxes with a standard deviation of 32 boxes.

How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORMSINV() function to find the correct critical value for the given ?-level. Do not round intermediate calculations. Round your answer to the nearest whole number.)

Number of boxes

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92861492

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