## [answered] At a local money exchange store, the short cost (not enough

. At a local money exchange store, the short cost (not enough) and long cost (too much) depend on how much they stock and what the future demand are. Below table contains cost values for different stocking amount (rows) and different future cash demand amount (columns). The store wants to minimize cost by choosing the optimum stocking amount. Calculate expected cost for each stocking amount (5 of them). How much cash should the store stock???

 ?????????????????? Future cash demand?& probability Stocking Amount 100,000 10% 200,000 10% 250,000 20% 300,000 30% 400,000 30% Expected Cost 100,000 \$0 1080 1120 1160 1240 1052 200,000 600 0 1040 1080 1160 940 250,000 650 550 0 1040 1120 768 300,000 700 600 550 0 1080 564 400,000 800 700 650 600 0 460

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This question was answered on: Sep 18, 2020

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