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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.
Find the least number that is divisible by all numbers between 1 and 10 (both inclusive). Ans: The required number is the LCM of 1,2,3,4,5,6,7,8,9,10 ∴ LCM = 2 × 2
A 10 m ladder of 150N is placed at an angle 30degrees to a smooth wall at point A and the other end (point B) on the ground. Assume that the weight of the ladder acts at its mid po
Deflation Indexes may be utilized to deflate time series so that comparisons among periods may be made in real terms. This is a process of decreases a value measured in cur
Oscar sold 2 glasses of milk for each 5 sodas he sold. If he sold 10 glasses of milk, how many sodas did he sell? Set up a proportion along with milk/soda = 2/5 = 10x. Cross mu
4 8/16+1/
two sides of an equilateral triangle have lengths 3x-1 and 3x-1. Which of 27-x or 2x-4 could be the length of the third side?
Determine or find out if the subsequent series is convergent or divergent. If it converges find out its value. Solution To find out if the series is convergent we fir
Connecticut state sales tax is 6%. Lucy purchases a picture frame in which costs $10.50 What is the Connecticut sales tax on this item? Find out 6% of $10.50 by multiplying $10
predict whether there is a relationship between the mean January temperatures of a city in North America and the city''s position west of the prime meridian.
A number x is selected from the numbers 1,2,3 and then a second number y is randomly selected from the numbers 1,4,9. What is the probability that the product xy of the two
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