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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.
Application Practice Answer the following questions. Use Equation Editor to write mathematical expressions and equations. First, save this file to your hard drive by selecting Sav
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Solve the form ax 2 - bx - c factoring polynomials ? This tutorial will help you factor quadratics that look something like this: 2x 2 -3x - 14 (Leading coefficient is
Juan is g years old and Eva is 2 years younger than Juan. a.Find the sum of their ages in terms of g. b.Find the sum of their ages in g years'' time,in terms of g.
Q. Define Period, Amplitude and Phase Shift? Ans. Period, amplitude and phase shift are used when describing a sinusoidal curve The period of a function is the smallest
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A story based on profit and loss
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G2=5.12 and G5=80 Find, r, G1, and S6
Thus, just why do we care regarding direction fields? Two nice pieces of information are there which can be readily determined from the direction field for a differential equation.
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