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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.
interestind topic in operation research for doing project for msc mathematics
find the sum of the following series upto n terms: 1*2+2*4+3*8+4*16+.....
General approach of Exponential Functions : Before getting to this function let's take a much more general approach to things. Let's begin with b = 0 , b ≠ 1. Then an exponential f
HOW MUCH WILL A NEW CAR COST? THE AVERAGE COST OF A NEW CAR IN 1990 WAS $14371. IN 2003 THE AVERAGE COST HAD RISEN TO $22360. WHAT IS THE AMOUNT OF THE MONTHLY PAYMENT? THE AMOUNT
The C.P. of 20 articles is same as theS.P. of x articles.Article profit is 25%.Find x
1) let R be the triangle with vertices (0,0), (pi, pi) and (pi, -pi). using the change of variables formula u = x-y and v = x+y , compute the double integral (cos(x-y)sin(x+y) dA a
Division basically refers to multiplication of reciprocal. For example a/b is same as a*1/b or we can say, is same as a*b -1 , which is "a" multiplied to the inverse of "b". There
Determine or find out the direction cosines and direction angles for a = (2, 1, -4) Solution We will require the magnitude of the vector. ||a|| = √ (4+1+16) = √ (21)
WHICH LIFE PROBLEMS CAN BE SOLVED USING THE KNOWLEDGE OF DIFFERNTIAL EQUATIONS?
Optimization : In this section we will learn optimization problems. In optimization problems we will see for the largest value or the smallest value which a function can take.
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