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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.
Evaluate algebraic word problems: A utility has three nuclear facilities which supply a total of 600 megawatts (Mw) of electricity to a particular area. The largest facility
Two boats leave the same port at the same time. One travels at a constant speed of 30 km/hr at a bearing of 50° and the other on a bearing of 110° at a constant speed of 26 km/hr.
Proper and Improper Fractions: Example: 3/8 proper fraction 8/3 improper fraction 3/3 improper fraction Here an improper fraction expressed as the sum of an in
A standard deck of cards contains 52 cards. One card is selected at random. Determine a) The probability that the card is a 8 or an Ace? b) The probability that the card is
simple predicate
any example
Retail price index This is weighted average of price relatives based on an average household in the base year. The items consumed are divided into groups as liker food, transp
Build a Fine Automaton which accept all words which have different first and last letters (that is if the word starts with an "a" to be accepted it should end with "b" and vice ver
For inequalities we contain a similar notation. Based on the complexity of the inequality the solution set might be a single number or it might be a range of numbers. If it is jus
What do you mean by transient state and steady-state queueing systems If the characteristics of a queuing system are independent of time or equivalently if the behaviour of the
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