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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.
One-sided limits: We do this along with one-sided limits. As the name implies, with one-sided limits we will just looking at one side of the point in question. Following are the
On a picnic outing, 2 two-person teams are playing hide-and-seek. There are four hiding locations (A, B, C, and D), and the two members of the hiding team can hide separately in a
Multiply following. (a) (4x 2 -x)(6-3x) (b) (2x+6) 2 Solution (a) (4x 2 - x )(6 - 3x ) Again we will only FOIL this one out. (4x 2 - x )(6 - 3x) = 24x 2 -
defination of uper boundarie .
A sample of students had a mean age of 35 years along with a standard deviation of 5 years. A student was randomly picked from a group of 200 students. Determine the probability
8^N*2^2N/4^3N
3 divided bye 24
Model of 180 meter tall building using a scale of 1.5 centimeters = 3.5 meters. How tall will the model be?
verify liouville''s theorem for y''''''-y''''-y''+y=0
Suppose a Ferris wheel with radius of 12 meters is rotating at a rate of 2 rotations per minute. a. How fast is a person rising when the person is 3 meters above the horizontal lin
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