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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.
how to change sin 24 degree in digits?
using a pair of compasses a ruler and a pencil. construct a triangle CDE in which DE=10cm, DC+8cm and CDE= 45 degrees. construct CF perpendicular to DE such that F lies on DE using
A rectangular field is to be fenced in completely. The width is given as 22 yd and the total area is 990 yd 2 . Determine the length of the field? a. 31 yd b. 45 yd c. 968
principal=2000 rate=5% time=2 years find compound interest
what is the difference between North America''s part of the total population and Africa''s part
STATISTICS AND PROBABILITY : Statistics are the only tools by which an opening can be cut through the formidable thicket of difficulties that bars the path of
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sin (cot -1 {cos (tan -1 x)}) tan -1 x = A => tan A =x sec A = √(1+x 2 ) ==> cos A = 1/√(1+x 2 ) so A = cos -1 (1/√(1+x 2 )) sin (cot -1 {cos (tan -1 x)}) = s
Volumes of Solids of Revolution / Method of Cylinders In the previous section we started looking at determine volumes of solids of revolution. In this section we took cross se
Tied Rankings A slight adjustment to the formula is made if several students tie and have the similar ranking the adjustment is: (t 3 - t)/12 Whereas t = number of tied
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