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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.
Intermediate Value Theorem Suppose that f(x) is continuous on [a, b] and allow M be any number among f(a) and f(b). There then exists a number c such that, 1. a 2. f (
An ice-cream cone has a hemispherical top. If the height of the cone is 9 cm and base radius is 2.5 cm, find the volume of ice cream cone.
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A reaction following first-order kinetics was studied by determining the reactant concentrations at equal time intervals. Each successive pair of concentrations, [A] o and [A] 1
how to find basic intrest problems
in a veggie mix the ratio of cups of carrots to cups of broccolie is 4 to 5 if you made this party mix larger how many cups of carrots would be needed to mix with fo cups of brocco
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Rachel had 3.25 quart of ice tea. her family drank 9 cups.How many cups are left
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