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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.
joey asked 30 randomly selected students if they drank milk, juice, or bottled water with their lunch. He found that 9 drank milk, 16 drank juice, and 5 drank bottled water. If the
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mathematical induction theorem
the area of a triangle is 20 and its base is 16. Find the base of a similar triangle whose area is 45. Given is a regular pentagon. Find the measure of angle LHIK.
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Dinesh bought an article for Rs. 374, which included a discount of 15% on the marked price and a sales tax of 10% on the reduced price. Find the marked price of the article.
A man invests rs.10400 in 6%shares at rs.104 and rs.11440 in 10.4% shares at rs.143.How much income would he get in all??
An orange has a diameter of 3 inches. Evaluate the volume of one orange. (π = 3.14) a. 9.42 in 3 b. 113.04 in 3 c. 28.26 in 3 d. 14.13 in 3 d. To determine the
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