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How much to order to maximize profit or minimize losses

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Reference no: EM132374564

Sales have the following probability distribution

X Px
R100 5%
200 10%
300 25%
400 35%
500 10%
600 10%
700 5%

Costs are .25 R per unit and revenues are .40 R per unit

Unsold units lose .25 R (all cost, no revenue)

What is E(v) Expected value and variance if quality address is 400, 500 or 600

How much to order to maximize profit or minimize losses, i.e "K"

Profit are thosly .40 x - .25 k

All calculation to be shown

Cle array, useless without methodology

Reference no: EM132374564

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