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

Find the equation for each of the two planes , Find the equation for each o...

Find the equation for each of the two planes that just touch the sphere (x - 1) 2 + (y - 4) 2 + (z - 2)2 = 36 and are parallel to the yz-plane. And give the points on the sphere

What is the value of the largest consecutive integer, The sum of three cons...

The sum of three consecutive even integers is 102. What is the value of the largest consecutive integer? Three consecutive even integers are numbers in order such as 4, 6, and

Graphs, How do I graph a round robin pool tournment with 6 players using gr...

How do I graph a round robin pool tournment with 6 players using graph theory

Identify the surface for the equation , Identify the surface for each of th...

Identify the surface for each of the subsequent equations. (a) r = 5 (b) r 2 + z 2 = 100 (c) z = r Solution (a)  In two dimensions we are familiar with that this

Nonhomogeneous systems, We now require addressing nonhomogeneous systems in...

We now require addressing nonhomogeneous systems in brief. Both of the methods which we looked at back in the second order differential equations section can also be used now.  Sin

?, x/15=50/20

x/15=50/20

Determine the area of the walkway, Mark is preparing a walkway around his i...

Mark is preparing a walkway around his inground pool. The pool is 20 by 40 ft and the walkway is intended to be 4 ft wide. Determine the area of the walkway? a. 224 ft 2 b.

Pre-algebra, How do you solve a table to get the function rule?

How do you solve a table to get the function rule?

C programming, Write a program to find the area under the curve y = f(x) be...

Write a program to find the area under the curve y = f(x) between x = a and x = b, integrate y = f(x) between the limits of a and b. The area under a curve between two points can b

Conic-section , How will you find the vertex of a parabola given in 2nd de...

How will you find the vertex of a parabola given in 2nd degree form (the axis of parabola is not parallel to coordinate axes)? Ans) Write the equation in type of standard form.

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