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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.
In a square of side 8 cm two quadrant with taking the side of square as radius are inscribed in the square..
Function notation: Next we have to take a rapid look at function notation. Function notation is nothing more than way of writing the y in a function which will let to simplify not
1. A survey line on campus is measured to be 1000.00 ft long on horizontal ground. The elevation of the line is 700.00 feet and the geoid separation from ellipsoid to geoid is -110
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methodology of OR
y+7 3y-2 --- = 1 + ---- 3 5
There are 6 contestants for the post of chairman secretary and treasurer. These positions can be filled by any of the 6. Find the possible no. of ways whether the 3 positions may b
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The Video Club Martin rents movies at "regular price" andat "half price". Usually if the films are regularly priced one day, they will be at regular price the next day with probab
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