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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.
What is polygon? A polygon is a shape with three or more sides, in which each side touches another only at its endpoints. Some polygons that you are probably already familiar w
Center and Radius 1)(x+2)^2-(y-3)^2=4
Marty used the subsequent mathematical statement to show he could change an expression and still get the similar answer on both sides: 10 × (6 × 5) = (10 × 6) × 5 Which mathematica
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buyer behaviour
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What is 124 out of 300 in percent ?
Three payments of $2000 (originally due six months ago, today, and six months from now) have been renegotiated to two payments: $3000 one month from now and a second payment due in
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