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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.
2 1/3 + 3 3/8
if area of a rectangle is 27 sqmtr and it perimeter is 24 m find the length and breath#
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can anyone explain me the concept of quadratic equation?
1. What is the value of Φ(0)? 2. Φ is the pdf for N(0, 1); calculate the value of Φ(1.5). 3. Suppose X ~ N(0, 1). Which, if either, is more likely: .3 ≤ X ≤ .4, or .7 ≤ X ≤
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An electric utility company determines the monthly bill for a residential customer by adding an energy charge of 5.72 cents per kilowatt-hour to its base charge of $16.35 per month
1/(1-z)(1-z)(1-z)(1-z)
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