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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.
Two 1000 liter tanks are containing salt water. Tank 1 has 800 liters of water initially having 20 grams of salt dissolved in this and tank 2 has 1000 liters of water and initially
find the points on y axis whose distances from the points A(6,7) and B(4,-3) are in the ratio 1:2
Class limits These are numerical values, which limits uq extended of a given class that is all the observations in a provided class are expected to fall in the interval which
Integration Techniques In this section we are going to be looking at several integration techniques and methods. There are a fair number of integration techniques and some wil
Speaking Mathematically : A Class 2 teacher was explaining the concept of place value to his students, using the number eleven. He started by saying "One and one make eleven." So
what is a variable
21-83/4
lbl 2 lcl 2 sin 2 θ
The vertices of a ? ABC are A(4, 6), B(1. 5) and C(7, 2). A line is drawn to intersect sides AB and AC at D and E respectively, such that AD/AB = AE/AC = 1/4 .Calculate the ar
660 ft/min=________ft/sec
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