User Account

All Pages

case1, Other Engineering

Assignment Help:
Flifla sells tomatoes every day in Suk al Marqazi, the downtown fruit and vegetable market. He finds that he can order tomatoes in crates of 25 kg and he is able to stock a maximum of four crates or 100 kg of tomatoes. His experience taught him that the daily demand ranges from 0 to100 kg of tomatoes. Flifla sells tomatoes at 1 dirham/kg. His cost is Dhs 0.70 per kg. Therefore, his profit is Dhs 0.30 per kg of tomatoes sold. For any unsold tomatoes, Flifla can sell them for Dhs 0.50 to a recycling firm that produces tomato paste. Flifla’s objective is to determine the quantity of tomatoes to buy each day to maximize his profits. Answer the following questions.
• Construct a conditional payoff table.
• What is the best decision according to the following criteria?
• Optimistic criterion
• Pessimistic criterion
• Equally likely
• Construct an opportunity loss table.
• What is the Minimax regret?
• Assume the following probability distribution:
Demand: 0 kg, 25 kg, 50 kg, 75 kg, 100 kg.
Probability: 0.05,0.10,0.30,0.35,0.20
What is the best decision according to the Expected Monetary Value?
• What is the best decision according to the Expected Opportunity Loss?
• What is the Expected Value of Perfect Information?

Related Discussions:- case1

Designing a phone, hi um how do people design phones and stuff like da

hi um how do people design phones and stuff like da

Light wave and matters, Expertsmind.com brings you unique solution in phy...

Expertsmind.com brings you unique solution in physics -          What is light? -            -          Light is an electromagnetic wave that also comes in "photons"

Credit limit, HOW WOULD YOU JUDGE THE POTENTIAL PROFIT OF BAJAJ ELECTRONICS...

HOW WOULD YOU JUDGE THE POTENTIAL PROFIT OF BAJAJ ELECTRONICS

Market value, Calculate the market value of a firm with total assests of $1...

Calculate the market value of a firm with total assests of $105 million and $50 million of 10% perpetual debt in the capital structure. The firm''s cost of equity is 14% on the $55

Static unbalance-aircraft maintenance , Static Unbalance: This arises w...

Static Unbalance: This arises when two EQUAL unbalance masses are positioned at opposite ends of a rotor and spaced at 180 from each other. If placed on knife-edges, the rotor

Quality assurance and accreditation, how can i link quality assurance and a...

how can i link quality assurance and accreditation with a valid applicaion of my own work?

Digital electronics, Design 2:1 MUX with strobe input using NAND gates

Design 2:1 MUX with strobe input using NAND gates

International finance, What will be the effects of an increase in the money...

What will be the effects of an increase in the money supply on the interest rate? What will be the effects of an increase in real output on the interest rate?

Electronics, explain compensated semiconductors

explain compensated semiconductors

Function generator, Expertsmind.com brings you unique solution in electri...

Expertsmind.com brings you unique solution in electrical engineering   What is a function generator? A function generator is a part of electronic device that prod

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd