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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.
Testing The Difference Between Two Sample Means (Large Samples) A large sample is defined as one which have 30 or more items as n≥30 whereas n is the sample size In a busine
1. What is the value of Φ(0)? 2. Φ is the pdf for N(0, 1); calculate the value of Φ(1.5). 3. Suppose X ~ N(0, 1). Which, if either, is more likely: .3 ≤ X ≤ .4, or .7 ≤ X ≤
show that, sin 90 degree = 2 cos 45 degree sin 45 degree
Brian's 100-yard dash time was 2.68 seconds more than one school record. Brian's time was 13.4 seconds. What is the school record? The school record is less than Brian's time.
A man buys rs50 shares of a company paying 12% of dividendat premium ofof rs10 find market value of 320 shares and profit%
Variance Square of the standard deviation is termed as variance. The semi inter-quartile range - It is a measure of dispersion which includes the use of quartile. A q
Verify Liouville''s formula for y "-y" - y'' + y = 0 in (0, 1) ?
Verify Liouville''''s formula for y "-y" - y'''' + y = 0 in (0, 1)
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