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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.
Intermediate Value Theorem Suppose that f(x) is continuous on [a, b] and allow M be any number among f(a) and f(b). There then exists a number c such that, 1. a 2. f (
in 2000,nearly 18% of cars in north America were sliver. what percent of the cars sold were not sliver?
how can we write the project
what is integration and how is it important
What is the median for this problem (55+75+85+100+100)
9:59 p.m. to 10:45 p.m
a doctor sees 3 boys to 5 girls in one week . If he sees 40 boys in one day then how many girls does he see that day
What is Identities and Contradictions ? Look at this equation: x + 1 = 1 + x It happens to be true always, no matter what the value of x. (Try it out! What if x is 43?)
Caterer determines that 87% of people who sampled the food thought it was delicious. A random sample of 144 out of population of 5000 taken. The 144 are asked to sample the food. I
Cone - Three dimensional spaces The below equation is the general equation of a cone. X 2 / a 2 + y 2 /b 2 = z 2 /c 2 Here is a diagram of a typical cone. Not
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