Disappointment Event for Restaurant - Management Assignment Help

Assignment Task

Questions

We are running a restaurant that serves. among other dishes. steaks. Each morning we take some from the fridge to have them ready to serve. We do not want to take out too many. because the ones that are not served are wasted. If we take out too few. we risk disappointing some customers when they order a steak but we do not have enough ready. We have a customer base of 7 clients that might select a steak when they come into our restaurant each day. Each of these clients might choose to have a steak with probability 0.5. We call it a 'disappointment event' when we take out less steaks that will be ordered on a day. 
What is the minimum number of steaks that we should take out from the fridge each day, to have a probability Of a 'disappointment event' of 0.0626 or less? 

 

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