Calculate the average return, Mathematics

Assignment Help:

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 

1840_Calculate the average return.png

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.


Related Discussions:- Calculate the average return

What is a percentage, Q. What is a percentage? Ans. Percent  mean...

Q. What is a percentage? Ans. Percent  means "per hundred", or "out of 100". A percentage can be written as a ratio, or fraction, where the denominator (bottom) is 100.

TRIGONOMETRY, EXPLAIN ME ABOUT ITS FUNCTIONS.

EXPLAIN ME ABOUT ITS FUNCTIONS.

SAT question, In a certain class, one half of the male students and two thi...

In a certain class, one half of the male students and two thirds of the female students speak French. If there are three fourths as many girls as boys in the class. What fraction o

Brian 100-yard dash time was 2.68 what is the school record, Brian's 100-ya...

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.

Demonstrate that dijkstra algorithm - digraph, Demonstrate that Dijkstra's ...

Demonstrate that Dijkstra's algorithm does not necessarily work if some of the costs are negative by finding a digraph with negative costs (but no negative cost dicircuits) for whi

Random variable, RANDOM VARIABLE A variable which assumes differ...

RANDOM VARIABLE A variable which assumes different numerical values as a result of random experiments or random occurrences is known as a random variable. The rainfal

Eqt.., pam bought a new bedroom suit for $2588.she me a down payment of $18...

pam bought a new bedroom suit for $2588.she me a down payment of $188 and paid the remaining amount in 24 equal monthly payments .how much did she pay for each monthly payment.

Share and divivdend, i m making a project on share and dividend. will u pls...

i m making a project on share and dividend. will u pls give the all of 10pages information ?

Statistics, the median of a continuous frequency distribution is 21.if each...

the median of a continuous frequency distribution is 21.if each observation is increased by 5. find the new median

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd