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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.
1) Compute the center of mass of the solid of unit density 1 bounded (in spherical coordinates) by p=1 and by φ is greater than or equal 0 and less than or equal pi/4
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Linear Equations - Resolving and identifying linear first order differential equations. Separable Equations - Resolving and identifying separable first order differential
1. Suppose the arrival times of phone calls in a help centre follow a Poisson process with rate 20 per hour (so the inter-arrival times are independent exponential random variables
what is the LCM of 18, 56 and 104 show working
Evaluate following limits. Solution : Let's do the first limit & in this case it sees like we will factor a z 3 out of the numerator and denominator both. Remember that
Q. Basic Set Union Operation? Ans. Suppose instead that your school needs to know which students are taking either art or business or both. Then the students who are ta
Q. How to Subtract fractions with the same denominators? Ans. Subtracting fractions is basically the same as adding them. If you don't know how to add fractions, you shoul
Solve 4 cos(t )= 3 on[-8,10]. Solution : Here the first step is identical to the problems in the previous section. First we need to isolate the cosine on one side by itself & t
find the value of A and B if the following polynomials are perfect square:
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