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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.
Some Definitions of e 1. 2. e is the unique +ve number for which 3. The second one is the significant one for us since that limit is exactly the limit
Sketch the phase portrait for the given system. Solution : From the last illustration we know that the eigenvectors and eigenvalues for this system are, This tu
Combined mean Assume m be the combined mean Assume x 1 be the mean of first sample Assume x 2 be the mean of the second sample Assume n 1 be the size of the 1 st
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
Make a file called "testtan.dat" which has 2 lines, with 3 real numbers on every line (some negative, some positive, in the range from-1 to 3). The file can be formed from the edi
What is the smallest possible number in which can be created along with four decimal places using the numbers 3, 5, 6, and 8? Place the smallest number in the largest place val
Even and Odd Functions : This is the final topic that we have to discuss in this chapter. Firstly, an even function is any function which satisfies,
This question is in the form of an exercise and questions designed to give you more insight into signal processing. On the Moodle site for the module there is an EXCEL file called
A vertical post stands on a horizontal plane. The angle of elevation of the top is 60 o and that of a point x metre be the height of the post, then prove that x = 2 h/3 .
What inequalities and intervals are? If it is given that a real number 'p' is not less than another real number 'q', we understand that either p should be equal to q or
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