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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.
-x^3+6x-7
A tower and a monument stand on a level plane. the angles of depression on top and bottom of the monument viewed from the top of the tower are 13 degrees and 31 degrees, respective
10p=100
The population of Hamden was 350,000 in 1990. By 2000, the population had decreased to 329,000. What percent of decrease is this? First, ?nd out the number of residents who lef
Above we have seen that (2x 2 - x + 3) and (3x 3 + x 2 - 2x - 5) are the factors of 6x 5 - x 4 + 4x 3 - 5x 2 - x - 15. In this case we are able to find one facto
A speaks truth in 80% of the cases and B speaks truth in 60% of the cases. Find out the probability of the cases of which they are possible to contradict each other in stating sim
Linda bought 35 yards of fencing at $4.88 a yard. How much did she spend? To multiply decimals, multiply generally, count the number of decimal places in the problem, then us
Example of Linear Equations: Solve the equation 2x + 9 = 3(x + 4). Solution: Step 1. Using Axiom 2, subtract 3x and 9 from both sides of the equation. 2x + 9 = 3(
(x+15)/y=10 where y=5
Partial Derivatives Partial derivatives are used while we want to investigate the effect of one independent variable on dependent variable. For illustration, the revenues of a
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