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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.
If 3/5=5,4/7=8,8/7=6 then, what should 9/6 be ?
Product and Quotient Rule : Firstly let's see why we have to be careful with products & quotients. Assume that we have the two functions f ( x ) = x 3 and g ( x ) = x 6 .
For the given function recognize the intervals where the function is increasing and decreasing and the intervals where the function is concave up & concave down. Utilizes this info
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At an office, the manager earns 40% more than a first year employees. The employee earns what fraction of the manager earnings?
the wholesale p of string beans in dollars per bushel and the daily supply x in thousands of bushel,are related by the equation px+6x+7p=5950. if the supply is decreasing at the r
to plot (5,-4), start at (0,0) and move 5 units left and 4 units down
Statistical inference This is the process of drawing conclusions about attributes of a population based upon information contained in a sample or taken from the population.
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use the Pythagorean Theorem to find the length of the missing side. Then find the indicated trigonometric function of the given angle. give an exact answer with a rational denomina
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