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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.
A series is said to be in Arithmetic Progression (A.P.) if the consecutive numbers in the series differs by a constant value. This constant value is referre
Simplify the following expression and state the coefficient of each variables (a)6m-4-2m+15 (b)4x+6y-3x+5y
What is the answer for I am greater than 30 and less than 40. The sum of my digits is less than 5.
A ladder sets against a wall at an angle α to the horizontal. If the foot is pulled away from the wall through a distance of 'a', so that is slides a distance 'b' down the wall ma
how it is
The area of the base of a prism can be expressed as x2 + 4x + 1 and the height of the prism can be expressed as x - 3. What is the volume of this prism in terms of x? Because t
Calculate the area and perimeter of a right triangle: Calculate the area and perimeter of a right triangle with a 9" base and sides measuring 12 and 15. Be sure to involve th
Ellipsoid Now here is the general equation of an ellipsoid. X 2 / a 2 + y 2 /b 2 + z 2 /c 2 = 1 Here is a diagram of a typical ellipsoid. If a = b = c afterw
/3x-5/-x-7=0
how is it done
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