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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.
Example of mathematical operations: Example: Solve the following equation: [2 .( 3 + 5) - 5 + 2] x 3 = ________ Solution: a. Perform operations with
A ?ight from Pittsburgh to Los Angeles took 5 hours and covered 3,060 miles. What was the plane's average speed? Find out the rate at that Susan is traveling through dividing h
Simplify following and write the answers with only positive exponents. (-10 z 2 y -4 ) 2 ( z 3 y ) -5 Solution (-10 z 2 y -4 ) 2 ( z 3 y ) -5
there are 300 students in the sixth grade. if 40% of them were girls, how many boys were there?
f all the permutations of the letters of the word chalk are written in a dictionary the rank of this word will be?
Explain Histogramsin details? Another way to display frequencies is by using a histogram. The following is an example of a histogram using the data from the previous example:
Build a Fine Automaton which accept all words which have different first and last letters (that is if the word starts with an "a" to be accepted it should end with "b" and vice ver
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Non Linear Relationships If the correlation coefficient and the scatter diagram do not indicate linear relationship, then the relationship may be nonlinear. Two such relations
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