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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.
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modular arithematic
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The scores of students taking the ACT college entrance examination are normally distributed with a mean m = 20.1 and a standard deviation s = 5.8. A single student is selected a
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A subset of the real line is called as an interval. Intervals are very significant in computing inequalities or in searching domains etc. If there are two numbers a, b € R such tha
divide 50 into two parts such that if 6 is subtracted from one part and 12 is added to the second part,we get the same number?
1x1
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