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

The stoichiometric reaction, Prove that a reaction following the rate law v...

Prove that a reaction following the rate law v = k[A] 2 is characterized by a linear plot of [P] t 1 versus t-l, where P is the product of the stoichiometric reaction A = P. Sho

Sharon purchased six movie tickets how much was each ticket, Sharon purchas...

Sharon purchased six adult movie tickets. She spent $43.50 on the tickets. How much was each ticket? To ?nd out the price of each individual ticket, you should divide the total

Hundreths., round to the nearest hundreths 1677.76

round to the nearest hundreths 1677.76

Determine matrix of transformation for orthogonal projection, Determine the...

Determine the matrix of transformation for the orthogonal projection onto the line L that passes through the origin and is in the direction Û=(3/13 , 4/13 , 12/13). Determine the r

Define an ordered rooted tree, Define an ordered rooted tree. Cite any two ...

Define an ordered rooted tree. Cite any two applications of the tree structure, also illustrate using an example each the purpose of the usage.   Ans: A  tree is a graph like t

Quardrilatrel, construct aquadrilaterl PQRSin which pq=3.5cm qr=6.5cm ,p=60...

construct aquadrilaterl PQRSin which pq=3.5cm qr=6.5cm ,p=60 ,q=105 ,s=75

Differentials, Differentials : In this section we will introduce a nota...

Differentials : In this section we will introduce a notation. We will also look at an application of this new notation. Given a function y = f ( x ) we call dy & dx differen

Find the maxima and minima - equal pi, 1) Find the maxima and minima of f(x...

1) Find the maxima and minima of f(x,y,z) = 2x + y -3z subject to the constraint 2x^2+y^2+2z^2=1 2) Compute the work done by the force ?eld F(x,y,z) = x^2I + y j +y k in moving

Fermat''s little theorem, 1. How many closed necklaces of length 7 can be m...

1. How many closed necklaces of length 7 can be made with 3 colors? (notice that 7 is a prime) 2. How many closed necklaces of length 10 can be made with 3 colors (this is di erent

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