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

Find the derivatives, Find the derivatives of the following functions a)...

Find the derivatives of the following functions a)      y = 5x 4 +3x -1-x 3 b)      y = (x+1) -1/2 c)      y= e x2+1 d)     y= e 3x lnx e)     y =ln(x+1/x)y

Statewide mortality rates, Assume that between workers exposed to asbestos ...

Assume that between workers exposed to asbestos in a shipyard in 1980, 33 died over a 10 year period from COPD, whereas only 24 such deaths would be expected based on statewide mor

#calculus, Ask question #divergent gradient u vector#

Ask question #divergent gradient u vector#

Development is continuously going on-- learning mathematics, DEVELOPMENT IS...

DEVELOPMENT IS CONTINUOUSLY GOING ON :  Think of any two children around you. Would you say that they are alike? Do they learn the same things the same way? It is very unlikely be

Find the coordinates of the point p, Find the coordinates of the point P wh...

Find the coordinates of the point P which is three -fourth of the way from A (3, 1) to B (-2, 5).

Payoffs dominations, how do you no wich row or columms dominate other rows ...

how do you no wich row or columms dominate other rows or columms in a payoff

Homogeneous odes, how do you solve a homogeneous ode that''s not in a multi...

how do you solve a homogeneous ode that''s not in a multiplication or division form

Algebra, how do i sole linear epuation

how do i sole linear epuation

Word problem, Twins Olivia and Chelsea and their friend Rylee were celebrat...

Twins Olivia and Chelsea and their friend Rylee were celebrating their fourteenth birthdays with a party at the beach. The first fun activity was water games. As Nicole arrived, sh

MAT201, #There is a balance of $1,234 and this person receive a refund chec...

#There is a balance of $1,234 and this person receive a refund check in the amount of $25 with her paycheck that was deposited into her account for $1500 which made her balance $27

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