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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.
From the data given below calculate the value of first and third quartiles, second and ninth deciles and forty-fifth and fifty-seventh percentiles.
I don''t understand the AND/OR rules and how they apply to probability
The probability that a randomly selected 3-year old garter snake will live to be 4 years old is .54 (assume results are independent). What is the probability that five randomly se
Binormal Vector - Three Dimensional Space Next, is the binormal vector. The binormal vector is illustrated to be, B → (t) = T → (t) * N → (t) Since the binormal vecto
#question.find the number of combinations of the letters a, b, c, and d taken 3 at a time.
A group of ?ve friends gone out to lunch. The total bill for the lunch was $53.75. Their meals all cost about the similar, so they needed to split the bill evenly. Without consider
In the figure, ABCD is a square inside a circle with centre O. The Centre of the square coincides with O & the diagonal AC is horizontal of AP, DQ are vertical & AP = 45 cm, DQ = 2
If the roots of the equation (a-b) x 2 + (b-c) x+ (c - a)= 0 are equal. Prove that 2a=b+c. Ans: (a-b) x 2 + (b-c) x+ (c - a) = 0 T.P 2a = b + c B 2 - 4AC = 0
Spurious Correlations - in several rare situations when plotting the data for x and y we may have a group indicating either positive correlation or negative (-ve) correlation
hi i am doing the oaks test do you have somthing that could help me
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