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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 Distributive Law : If you were asked to mentally multiply 37 with 9, how would you proceed? 1 would do it as follows - 37 is 30 + 7, 30 x 9 = 270, 7 x 9 = 63, so 270 + 63, th
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If A = 100 and B = 44 then A1 = 120 and B2 = 52.80 A is MAP and B is Tier 6. I need help to find a simple equation that I just cannot find. I just need the percentage
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Find the greatest number of 6 digits exactly divisible by 24, 15 and 36. (Ans:999720) Ans: LCM of 24, 15, 36 LCM = 3 × 2 × 2 × 2 × 3 × 5 = 360 Now, the greatest six digit
what are challenges and solution of international marketing
Describe the Properties of Inequalities ? Postulate In comparing two quantities, say a and b, there are exactly three possibilities. (1) a is less than b. (a b)
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