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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 garden in the shape of a rectangle is surrounded through a walkway of uniform width. The dimensions of the garden only are 35 by 24. The field of the garden and the walkway toget
Q. What is the probability of choosing a red ball? Ans. A box contains a red, blue and white ball. Two are drawn with replacement. (This means that one ball is selected, i
#question.x2-y2-4x-2y+3.
want to make an assignment on shares and dividend for class 10
2/3 divided 22 hours
Strategy for Series Now that we have got all of our tests out of the way it's time to think regarding to the organizing all of them into a general set of strategy to help us
convert the equation 4x^2+4y^2-4x-12y+1=0 to standard form and determine the center and radius of the circle. sketch the graph.
Expected Value For taking decisions under conditions of uncertainty, the concept of expected value of a random variable is used. The expected value is the mean of a probability
1/cos(x-a)cos(x-b)
Case 1: Suppose we have two terms 8ab and 4ab. On dividing the first by the second we have 8ab/4ab = 2 or 4ab/8ab = (1/2) depending on whether we consider either 8ab or 4ab as the
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