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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.
darien agrees to sponsor her sister $8 plus $1 for every mile she walks.Write an expression to show her total money
3x+y=9 5x-y=7
find the volume of a rectangular based right pyramid with its base 18 cm by 24 cm and the slanted edge 39 cm
If the radius of a sphere is doubled, the surface area is a. multiplied by 4. b. multiplied by 2. c. multiplied by 3. d. multiplied by 8. a. The formula for the surf
Fermat's Theorem : If f ( x ) contain a relative extrema at x = c & f ′ (c ) exists then x = c is a critical point of f ( x ) . Actually, it will be a critical point such that f
crystal ball pert
Find the least number that is divisible by all numbers between 1 and 10 (both inclusive). Ans: The required number is the LCM of 1,2,3,4,5,6,7,8,9,10 ∴ LCM = 2 × 2
Combination A combination is a group of times whether order is not significant. For a combination to hold at any described time it must comprise of the same items however i
A group of 5 people are going to meet weekly at the library for 4 weeks. Every week, two people are selected at random to speak. Every person may speak in multiple weeks, but no pa
Chi Square Distribution Chi square was first utilized by Karl Pearson in 1900. It is denoted by the Greek letter χ 2 . This contains only one parameter, called the number of d
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