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

Trigonometry, how to change sin 24 degree in digits?

how to change sin 24 degree in digits?

Need answer urgently, using a pair of compasses a ruler and a pencil. const...

using a pair of compasses a ruler and a pencil. construct a triangle CDE in which DE=10cm, DC+8cm and CDE= 45 degrees. construct CF perpendicular to DE such that F lies on DE using

Determine the length of the field, A rectangular field is to be fenced in c...

A rectangular field is to be fenced in completely. The width is given as 22 yd and the total area is 990 yd 2 . Determine the length of the field? a. 31 yd b. 45 yd c. 968

Compound interest, principal=2000 rate=5% time=2 years find compound intere...

principal=2000 rate=5% time=2 years find compound interest

.fractions, what is the difference between North America''s part of the tot...

what is the difference between North America''s part of the total population and Africa''s part

Statistics and probability, STATISTICS AND PROBABILITY : Statistics  ar...

STATISTICS AND PROBABILITY : Statistics  are the  only  tools  by  which  an  opening  can  be  cut  through  the formidable  thicket  of difficulties  that bars the  path  of

Sin[cot-1{cos(tan-1x)}], sin (cot -1 {cos (tan -1 x)}) tan -1 x = A  ...

sin (cot -1 {cos (tan -1 x)}) tan -1 x = A  => tan A =x sec A = √(1+x 2 ) ==>  cos A = 1/√(1+x 2 )    so   A =  cos -1 (1/√(1+x 2 )) sin (cot -1 {cos (tan -1 x)}) = s

Volumes of solids of revolution -method of cylinders, Volumes of Solids of ...

Volumes of Solids of Revolution / Method of Cylinders In the previous section we started looking at determine volumes of solids of revolution.  In this section we took cross se

Tied rankings, Tied Rankings A slight adjustment to the formula is mad...

Tied Rankings A slight adjustment to the formula is made if several students tie and have the similar ranking the adjustment is: (t 3 - t)/12 Whereas t = number of tied

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