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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.
Solve the recurrence relation T (K) = 2T (K-1), T (0) = 1 Ans: The following equation can be written in the subsequent form: t n - 2t n-1 = 0 Here now su
Theorem a → • b → = ||a → || ||b → || cos• Proof Let us give a modified version of the diagram above. The three vectors above make the triangle AOB and note tha
4.4238/[1.047+{1.111*[9.261/7.777]}*1.01
In this part we look at another method to obtain the factors of an expression. In the above you have seen that x 2 - 4x + 4 = (x - 2) 2 or (x - 2)(x - 2). If yo
3 items x, y and z will have 6 different permutations however only one combination. The given formular is generally used to determine the number of combinations in a described situ
After a lot of effort, 8-year-old Hari worked out 2 x 88 = 176. When asked to say what 2 x 89 was, after a lot of hard work, he produced the answer 178. How would you help him to r
the area of a triangle is 20 and its base is 16. Find the base of a similar triangle whose area is 45. Given is a regular pentagon. Find the measure of angle LHIK.
The subsequent topic that we require to take a look at is the determinant of a matrix. The determinant is in fact a function that gets a square matrix and converts this in a number
Rebecca is 12.5% taller than Debbie. Debbie is 64 inches tall. How tall is Rebecca? Because Rebecca is 12.5% taller than Debbie, she is 112.5% of Debbie's height (100% + 12.5%
Poisson Probability Distribution - It is a set of probabilities which is acquired for discrete events which are described as being rare. Occasions similar to binominal distri
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