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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.
78,990
Formulas of Surface Area - Applications of integrals S = ∫ 2Πyds rotation about x-axis S = ∫ 2Πxds rotation about y-axis Where, ds = √ 1 + (1+ (dy /
Hypothesis Testing Procedure Whenever a business complaint comes up here is a recommended procedure for conducting a statistical test. The reason of such a test is to establish
12.+12+
Reasons why we start division : The reason we start division by considering the digit in the leftmost place is efficiency and ease . For instance, suppose we divide 417 by 3, we
Find the Determinant and Inverse Matrix (a) Find the determinant for A by calculating the elementary products. (b) Find the determinant for A by reducing the matrix to u
A jar contains 54 marbles each of which is blue , green or white. The probability of selecting a blue marble at random from the jar is 1/3 and the probability of selecting a green
The area of a rectangular yard is 480 square feet. The yard is 24 feet wide. How many feet do I need to fence all four sides?
If you have 60% alcohol and wish to dilute with water to make 12 liters 40% alcohol, How many liters of water should you add?
g/6-2+(9/9)
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