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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.
The midpoint of the line joining (2a, 4) and (-2, 3b) is (1, 2a +1).Find the values of a & b. (Ans: a = 2, b = 2) Ans : A(2a, 4) P(1, 2a + 1) B(-2,
Solve the inequation: |x|
Max can paint a house in 3 hours. Saria can paint a house in 5 hours. working together, how long will it take both Saria and Max to paint a house?
what is the difference between North America''s part of the total population and Africa''s part
A librarian is returning library books to the shelf. She uses the call numbers to denote while the books belong. She requires placing a book about perennials along with a call numb
E1) From your experience, and what you have studied so far, by which age would-you expect an average child to be ready to acquire the following concepts? i) Simple classificatio
Chain Rule : If f(x) and g(x) are both differentiable functions and we describe F(x) = (f. g)(x) so the derivative of F(x) is F′(x) = f ′(g(x)) g′(x). Proof We will s
Computation of Covariance Ungrouped Data For a population consisting of paired ungrouped data points {X, Y} where,
how can i solve a multi variable power regression equation..? EX: y=a*(x1^b)*(x2^c).... i need to solve with 4 variable....
(x+4)(x+6)>0
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