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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.
Confidence Interval The interval estimate or a 'confidence interval' consists of a range as an upper confidence limit and lower confidence limit whether we are confident that a
if a&b are aconsra
we know that derivative of x 2 =2x. now we can write x 2 as x+x+x....(x times) then if we take defferentiation we get 1+1+1+.....(x times) now adding we get x . then which is wro
DIFFERENCE BETWEEN RIGHT ANGLE AND SCALENE
Find out the product of 5.2 × 10 3 and 6.5 × 10 7 . Write your answer in scientific notation. To multiply numbers written within scienti?c notation, multiply the ?rst numbers
Pay $40 for plan offered for $30 for plan what percentage of savings
Introduction: "Mathematical literacy is an individual's capacity to identify and understand the role that mathematics plays in the world, to make well-founded judgments, and t
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how to make 2.3 into a fraction?
A die is rolled and a coin is tossed. What is the probability that a 3 will be rolled and a tail tossed? Find the probability of each event separately, and then multiply the an
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