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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.
How is the probability distribution of a random variable constructed? Usually, the past behavior of the variable is studied and the frequency distribution of the past data is form
If α, β are the zeros of the polynomial x 2 +8x +6 frame a Quadratic polynomial whose zeros are a) 1/α and 1/β b) 1+ β/α , 1+ α/β. Ans. P(x) = x 2 +8x +6 α + β = -8
We have claimed that a randomly generated point lies on the equator of the sphere independent of where we pick the North Pole. To test this claim randomly generate ten vectors i
ABCD is a parallelogram which AB and CD are divides by P and Q. Such that AP:PB=3:2 and CQ:QD=4:1. If PQ and AC are meet at R, show that AR=3/7AC.
Example determines the first four derivatives for following. y = cos x Solution: Again, let's just do so
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what is the lcm of 4, 6 ,18?
in a veggie mix the ratio of cups of carrots to cups of broccolie is 4 to 5 if you made this party mix larger how many cups of carrots would be needed to mix with fo cups of brocco
Apply the concept of partial fraction and add the corresponding terms. The terms will get cut automatically leaving the first and last term
Derive the probability distribution of the completion times: a. The following probability distributions relate to the completion times, in weeks, T A and T B of two independ
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