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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.
Show that A-B ? C ? A?B ? B?C?
the radii of circular base of right circular cylinder and cone are in the ratio of 3:4 and their height are in the ratio of the 2:3 what is the ratio of their volume?
The subsequent force that we want to consider is damping. This force may or may not be there for any specified problem. Dampers work to counteract any movement. There are some w
A number of the form x + iy, where x and y are real and natural numbers and is called as a complex number. It is normally given by z. i.e. z = x + iy, x is called as the real part
the sum of the vector QR, -SR, TQ and 2ST is?
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