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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.
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The last topic that we have to discuss in this section is that of parallel & perpendicular lines. Following is a sketch of parallel and perpendicular lines. Suppose that th
The ratio of the sum of first n terms of two AP's is 7n+1:4n+27. Find the ratio of their 11th terms . Ans: Let a 1 , a 2 ... and d 1 , d 2 be the I terms are Cd's of t
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Example Multiply 3x 5 + 4x 3 + 2x - 1 and x 4 + 2x 2 + 4. The product is given by 3x 5 . (x 4 + 2x 2 + 4) + 4x 3 . (x 4 + 2x 2 + 4) + 2x .
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let R be a (noncommutative) ring. Given that a,b and a+b ? R are all units, prove that a^(-1)+b^(-1) is a unit
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