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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.
Here we need to see the inverse of a matrix. Provided a square matrix, A, of size n x n if we can get the other matrix of similar size, B that, AB = BA = I n after that we call
Verify Liouville''''s formula for y "-y" - y'''' + y = 0 in (0, 1)
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how to explain this strategy? how to do this strategy in solving a problem? can you give some example on how to solve this kind of strategy.
what is the circumference of a circle that is 11 in.
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steps to trace the cartesian curve
The 5% sales tax on a basket was $0.70. What was the price of the basket? Use a proportion to solve the problem; part/whole = %/100. The whole is the price of the basket (wh
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