You are considering adding a new food product to your store for resale.You are certain that, in a month, minimum demand for the product will be 6 units, while maximum demand will be 8 units.(Unfortunately, the new product has a one-month shelf life and is considered to be waste at the end of the month.)You will pay $60/unit for this new product while you plan to sell the product at a $40/unit profit.The estimated demand for this new product in any given month is 6 units(p = 0.1), 7 units(p = 0.4), and 8 units(p = 0.5).Using EMV analysis, how many units of the new product should be purchased for resale?

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The Answer of You are considering adding a new food product to your store for resale.You are certain that, in a month, minimum demand for the product will be 6 units, while maximum demand will be 8 units.(Unfortunately, the new product has a one-month shelf life and is considered to be waste at the end of the month.)You will pay $60/unit for this new product while you plan to sell the product at a $40/unit profit.The estimated demand for this new product in any given month is 6 units(p = 0.1), 7 units(p = 0.4), and 8 units(p = 0.5).Using EMV analysis, how many units of the new product should be purchased for resale?

You Are Considering Adding a New Food Product to Your