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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.
to which subset of the real number does the number 22 belong?
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sin 51+cos 81
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What is the greatest common factor of 24 and 64? List the factors of 24 and 64. The largest factor that they have in common is the greatest common factor. Factors of 24: 1,
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