In Oslo, there is a chain of small cafés called Bagel and Juice that serve fresh bagels and tasty juice. We know of such a café on Hegdehaugsveien, fairly close to the University of Oslo. The owner of this café, as well as all the other owners, faces one particular problem each night: She has to determine how many bagels to order for the next day. Obviously, on the one hand, she wants to have a sufficient supply for the customers. However, on the other hand, she does not want to order more than she will be able to sell, because the surplus has to be discarded or sold elsewhere at a loss.
KeywordsRelative Error Probability Density Function Trapezoidal Rule Integral Inequality Sample Standard Deviation
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