Use the newsvendor model and all the assumptions that go with it to answer this. A flower girl who sells roses tells you that her selling price is 100 rupees per rose. One day you see the flower girl coming with a fresh set of roses she bought and ask her how much she paid for it. She says she will not tell you the cost price per rose but tells you that the demand is exponentially distributed with average demand of 20 roses across 2 days (and she also buys once in 2 days a set of 20 roses). Then the cost price per rose is __________ rupees.
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Answer:
2000
Explanation:
20x100= 2000 for 2 days
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