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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.
how do I do it.
In the graphical representation of a frequency distribution if the distance between mode and mean is k times the distance between median and mean then find the value of k.
Q1: Find three positive numbers whose sum is 54 and whose product is as large as possible.
Suppose a unit circle, and any arc S on the unit circle in the first quadrant. No matter where S is provided, the area between S and the x-axis plus the covered area between S and
A comparison of the wearing out quality of two types of tyres was obtained by road testing. Samples of 100 tyres were collected. The miles traveled until wear out were recorded and
I need help in my homework
write down all the factors of 36
The sum of two consecutive odd integers is -112. What is the larger integer? Two consecutive odd integers are numbers in order such as 3 and 5 or -31 and -29, that are each 2 n
I don''t understand so what is 3 (8-x);24-15
RELATING ADDITION AND SUBTRACTION : In the earlier sections we have stressed the fact that to help children understand addition or subtraction, they need to be exposed to various
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