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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.
add 1 and 20 over 40 with 2 and 30 over 50
A garden in the shape of a rectangle is surrounded through a walkway of uniform width. The dimensions of the garden only are 35 by 24. The field of the garden and the walkway toget
Two people on bikes are at a distance of 350 meters. Person A begin riding north at a rate of 5 m/sec and 7 minutes later on Person B begin riding south at 3 m/sec. Determine th
Lucy's youth group increased $1,569 for charity. They decided to split the money evenly between 3 charities. How much will each charity receive? Divide the money raised through
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solution for this project
Find the area of shaded region, if the side of square is 28cm and radius of the sector is ½ the length of side of square.
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