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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.
determine the equation that represent the following lines be sure to define your variable and show all of your work
how to break fractions
1) Find the are length of r(t) = ( 1/2t^2, 1/3t^3, 1/3t^3) where t is between 1 and 3 (greater than or equal less than or equal) 2) Sketch the level curves of f(x,y) = x^2-2y^2
When Ms. Jones retired, she received a lump sum of $1,000,000 from her pension plan. She then invested this sum in an annuity account that would pay her an equal amount at the end
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Explain the Absorbing States of a markov chain.
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Suppose you are in the market for a new home and are interested in a new housing community under construction in a another city. a) The sales representative later shows that there
what should added to the sum of (-26) and 31 to make it equal to the sum of (-35) and (-11) question #Minimum 100 words accepted#
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