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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.
Find the 14th term in the arithmetic sequence. 60, 68, 76, 84, 92
By selling a violin for $4950, giving a 10% discount on the marked price, a trader gained $950 on his investment, Find, Cost price.
which fractions is equivalent to 5/ 6 a.20/24 b.9/10 c.8/18 d.10/15
if abebe murepay a $100000interse free loan by making annuallypayment of 1st
Q. Draw Grouped Frequency Tables? Ans. Grouped frequency tables are often used when there are many different values. In these tables, the values are grouped into classes
The Dow Jones Industrial Average fell 2% presently. The Dow began the day at 8,800. What was the Dow at the end of the day after the 2% drop? The Dow lost 2%, so it is worth 9
How to Converting Percents to Fractions ? To convert a percent to a fraction: 1. Remove the percent sign. 2. Create a fraction, in which the resulting number from Step 1 is
Distribution of Sample distribution or Sampling means A sample of size n is taken from the parent population and mean of the sample is estimated. It is repeated for a number o
The numbers used to measure quantities such as length, area, volume, body temperature, GNP, growth rate etc. are called real numbers. Another definition of real numbers us
A two-digit number is seven times the sum of its digits. The number formed by reversing the digits is 18 less than the original number. Find the original number.
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