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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.
Determine if the following sequences are monotonic and/or bounded. (a) {-n 2 } ∞ n=0 (b) {( -1) n+1 } ∞ n=1 (c) {2/n 2 } ∞ n=5 Solution {-n 2 } ∞ n=0
A die is thrown repeatedly until a six comes up. What is the sample space for this experiment? HINT ;A= {6} B={1,2,3,4,5,} Ans: The sample space is = {A, BA, BBA, BBBA, BBBBA.
Before going further, let us repeat an aspect of learning which is useful to keep in mind while formulating teaching strategies. A child who can add or subtract in the context of s
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Proof of the Properties of vector arithmetic Proof of a(v → + w → ) = av → + aw → We will begin with the two vectors, v → = (v 1 , v 2 ,..., v n )and w? = w
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How many ways can 4 DVDs be arranged on a shelf? Solution: There are 4 ways to choose the first DVD, 3 ways to choose the second, 2 ways to choose the third and 1 way to choo
UNDETERMINED COEFFICIENTS The way of Undetermined Coefficients for systems is pretty much the same to the second order differential equation case. The simple difference is as t
THE MULTIPLICATION ALGORITHM : Some Class 3 children in a nearby school had been taught the standard multiplication. Algorithm, and had even done reasonably well in the tests bas
E1) I have a three-year-old friend. He has a lot of toy cars to play with. Playing with him once, I divided the cars into two sets. One set was more spread out and had 14 cars in i
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