Calculate the average return, Mathematics

Assignment Help:

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 

1840_Calculate the average return.png

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.


Related Discussions:- Calculate the average return

Function to convert a complex number in algebraic form, Go back to the com...

Go back to the complex numbers code in Figures 50 and 51 of your notes. Add code fragments to handle the following: 1. A function for adding two complex numbers given in algeb

Linear algebra, i have question like proof, can you please help me on it?

i have question like proof, can you please help me on it?

Pre-calculus, Give all solutions between o degree and 360 degree for sin x=...

Give all solutions between o degree and 360 degree for sin x=3/2

Find out the average temperature, Find out the average temperature: E...

Find out the average temperature: Example: Find out the average temperature if the subsequent values were recorded: 600°F, 596°F, 597°F, 603°F Solution: Step

Exponential and logarithmic fuctions, How long does it take for an amount o...

How long does it take for an amount of money P to double itself if it is invested at 8% interest compounded 4 times a year?

Complex number, a ,b,c are complex numbers such that a/1-b=b/1-c=c-1-a=k.fi...

a ,b,c are complex numbers such that a/1-b=b/1-c=c-1-a=k.find the value of k

Remainder when 7^103 is divided by 24 , Find the remainder when 7^103 is di...

Find the remainder when 7^103 is divided by 24 Solution) we know by the concept of mod that.....   49 is congruent to 1 mod 24(means if 1 is subtracted fom 49 u get 48 which is

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd