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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.
Continuity : In the last few sections we've been using the term "nice enough" to describe those functions which we could evaluate limits by just evaluating the function at the po
Prove that the intercept of a tangent between two parallel tangents to a circle subtends a right angle at the centre. Since Δ ADF ≅ Δ DFC ∠ADF = ∠CDF ∴ ∠ADC = 2 ∠CDF
PLAY AND LEARN : Children can learn many basic mathematical concepts through games. They enjoy Mathematical concepts can be playing within familiar contexts. Their games also gen
The alternative hypothesis When formulating a null hypothesis we also consider the fact that the belief may be found to be untrue thus we will refuse it. Therefore we formula
HOW TO ADD MIXED FRACTION
A water sprinkler operates in a circular pattern a distance of 10 ft. Evaluate the circumference of the spray? (π = 3.14) a. 31.4 ft b. 314 ft c. 62.8 ft d. 628 ft
.what are 20 math integer equations that equal 36?..
Solve 3 + 2 ln ( x /7+3 ) = -4 . Solution This initial step in this problem is to get the logarithm by itself on one side of the equation along with a coefficient of 1.
((1/x^1/2-(x-1)^1/2)+(1/(5-3(x-1)^2)^1/2)
It is difficult to produce the individual answers and the insights that they were providing. But, let's look at some broad patterns that we found, which are similar to those that o
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