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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.
Example of Probability: Example: By using a die, what is the probability of rolling two 3s in a row? Solution: From the previous example, there is a 1/6 chance of
1. Find the number of zeroes of the polynomial y = f(x) whose graph is given in figure. 2 Find the circumcentre of the triangle whose vertices are (-2, -3), (-1, 0) and (7,-6).
Suppose we are required to find the difference between 3abc and 7abc. We look at two scenarios. The value we would obtain by subtracting a larger quantity from th
y+7 3y-2 --- = 1 + ---- 3 5
zeroes of polynomial 2x2-3x-2
3456+3694
I am the least two digit number which round off to 100?
The digraph D for a relation R on V = {1, 2, 3, 4} is shown below (a) show that (V,R) is a poset. (b) Draw its Hasse diagram. (c) Give a total order that have R.
find the simple interest on Rs. 68,000 at 50/3 per annum for 9 month
The average age of a woman and her daughter is 16 years. The ratio of their ages is 7: 1. Then the woman''s age is
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