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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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Question: All rates should be calculated to 3 decimal places in % (e.g. 1.234%), the discount factors to 5 decimal places (e.g. 0.98765), and the bond prices to 3 decimal place
How to Converting Scientific Notation to Standard Notation ? To change a number in scientific notation to standard notation, move the decimal point the same number of places as
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suresh invested rs.1080 in shares of face value rs.50 at rs.54.After receiving dividend on them at 8% he sold them at 52.In each of the transaction he paid 2 % brokerage.Hpw much d
You know that it's all the time a little scary while we devote an entire section just to the definition of something. Laplace transforms or just transforms can appear scary while w
#The digits 1,2,3,4and 5 are arranged in random order,to form a five-digit number. Find the probability that the number is a. an odd number. b.less than 23,000
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A pair of mittens has been discounted 12.5%. The original price of the mittens was $10. What is the new price? Find 12.5% of $10 and subtract it from $10. Find out 12.5% of $10
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