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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.
The ratio between the length and breadth of a rectangular field is 11:7. The cost of fencing it is Rs. 75,000. Find the dimensions of the field
If a pair of dice is thrown and X denotes the sum of the numbers on them. Find the probability distribution of X.Also find the expectation of X. SOLUTION: In a singl
On 30 June 2012 Bill purchase a home by taking out a 30 year mortgage of $600,000 at 6% interest per annum, compounded months. Repayments are made at the end of each month. (a) Cal
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A small airplane used 5and2over3 gallons of fuel to fly a 2 hour trip.how many gallons were used each hour
There is a staircase as shown in figure connecting points A and B. Measurements of steps are marked in the figure. Find the straight distance between A and B. (Ans:10) A ns
-x^3+6x-7
(x+1/x)^2=3 then value of x^72+x^66+x^54+x^36+x^24+x^6+1 is
applications of VAM.
The calculation of the angles of a triangle are shown by 2x + 15, x + 20 and 3x + 25. Evaluate the measure of the smallest angle within the triangle. a. 40° b. 85° c. 25°
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