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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.
A man sold an item for Rs 6,750 at a loss 25%. What will be the selling price of same item if he sells it at a profit of 15%?
Describe the Types of triangles ? Triangles can be classified according to the lengths of the sides or the measures of the angles. 1. Naming triangles by sides An
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Sketch the graph of the below function. f ( x ) = - x 5 + (5/2 )x 4 + (40/3) x 3 + 5 Solution : Whenever we sketch a graph it's good to have a few points on the graph to
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question paper on fractions
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Kevin invested $4,000 in an account which earns 6% interest per year and $x in a different account that earns 8% interest per year. How much is invested at 8% if the total amount o
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Ask queFind the normalized differential equation which has {x, xex} as its fundamental setstion #Minimum 100 words accepted#
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