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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.
would like explaination on how to do them
Measures of Central Tendency Measures of Central Tendency are statistical values which tend to happen at the centre of any well ordered set of data. When these measures happen
Functional and variations.Block III, Consider the functional S[y]=?_1^2 v(x^2+y'')dx , y(1)=0,y(2)=B Show that if ?=S[y+eg]-S[y], then to second order in e, ?=1/2 e?_1^2¦?g^'
Patio measures 24 meters square. Patio stone are 30 cm each side. How many stones are required to cover the patio?
HOW DO WE CAN SOLVE SIMPLIFY?
Find out Least Common Multiple? The smallest number that is a common multiple of two numbers (that is, both numbers share the same multiple) is called the least common multiple
1+2i=a+ib so find a and b
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
Maximize P=3x+2y Subject to x+y =6 x =3 x =0,y =0
Let's recall how do to do this with a rapid number example. 5/6 - 3/4 In this case we required a common denominator & reme
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