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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.
number theory trivia
Rebecca is 12.5% taller than Debbie. Debbie is 64 inches tall. How tall is Rebecca? Because Rebecca is 12.5% taller than Debbie, she is 112.5% of Debbie's height (100% + 12.5%
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A rectangular container is 15 cm wide and 5 cm long, and contains water to a depth of 8 cm. An object is placed in the water and the water rises 2.3 cm. Determine the volume of the
a)Solve for ?, if tan5? = 1. Ans: Tan 5? = 1 ⇒ ? =45/5 ⇒ ?=9 o . b)Solve for ? if S i n ?/1 + C os ? + 1 + C os ?/ S i n ? = 4 . Ans: S i n ?/1 +
Solve the subsequent IVP Y'' - 9 y = 0, y(0) = 2, y'(0) = -1 Solution First, the two functions y (t ) = e 3t and y(t ) = e -3t That is "nice enough" for us to
1) At a midway game at the state fair, the probability of winning an individual game is advertised to be 30% ( p = . 3). Suppose 50 people played the game (assume all 50 outcomes
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