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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.
Vertical Tangent for Parametric Equations Vertical tangents will take place where the derivative is not defined and thus we'll get vertical tangents at values of t for that we
Steps for Radio test Assume we have the series ∑a n Define, Then, a. If L b. If L>1 the series is divergent. c. If L = 1 the series might be divergent, this i
Leslie ordered a slice of pizza for $1.95, a salad for $2.25, and a soda for $1.05. What was the total cost of her order? The cost of every item must be added together; $1.95 +
Calculate average speed of a train: What is the average speed of a train which completes a 450-mile trip in 5 hours? Solution: Using Equation 15: V av = s/t V a
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I don''t understand the AND/OR rules and how they apply to probability
A radioactive substance decays to 30% of its original mass in 15 months. Determine the half-life of this radioactive substance to the nearest month
what is the rate of 35:15?
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