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A department store faces a decision for a seasonal product for which demand can be high, medium or low. The purchaser can order 1, 2 or 3 lots of this product before the season begins but cannot reorder later. Profit projections (in thousands of euro) are shown below
1. If the probabilities are 0.3 for high, 0.3 for medium and 0.4 for low, what is the recommended order quantity? Calculate the expected return based on these values.
2. Simulate twenty seasons and identify the recommended order quantity from this simulation.
3. Calculate the average return based on the simulated demand and compare your result with the expected return.
which experession can be used to check the quotient 646 divided by 3
1. Consider the following differential equation with initial conditions: t 2 x'' + 5 t x' + 3 x = 0, x(1) = 3, x'(1) = -13. Assume there is a solution of the form: x (t) = t
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Consider the equation x 2 y′′+ xy′- y = 4x ln x (a) Verify that x is a solution to the homogeneous equation. (b) Use the method of reduction of order to derive the second
Statistical estimation This is the procedure of using statistic to estimate a population parameter This is divided into point estimation whereas an estimate of a population
Advantages And Limitations Of Game Theory Advantage Game theory assists us to learn how to approach and understand a conflict condition and to develop the decision making
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no the parallel lines do not meet at infinity because the parallel lines never intersect each other even at infinity.if the intersect then it is called perpendicuar lines
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