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

#MATERIAL ENGINEERING, HEAT TREATMENT PROCESS

HEAT TREATMENT PROCESS

Aerodynamics-source of drage, Source of drage Total Drag on an aerofoil...

Source of drage Total Drag on an aerofoil is called profile drag - Skin friction • due to tangential force arising from friction - Pressure • Form - due to the inte

Turbine engines cooling , Turbine engines cooling : Turbine engines are...

Turbine engines cooling : Turbine engines are designed to convert heat energy into mechanical energy. The combustion process is continuous and, therefore, heat is produced. On

Vehicle kinematics, x(t)=integration((Vx(t)+Vy(t))/2*cos(theta)dt) where Vx...

x(t)=integration((Vx(t)+Vy(t))/2*cos(theta)dt) where Vx, Vy and theta is a function of t I am getting problem with how to write it down in matlab in order to get the position x.

Surveying construction with applications, need help with quiz 40 questions

need help with quiz 40 questions

Heat conduction on a cooling fin, on metlab

on metlab

Meer, write drawback of linear array

write drawback of linear array

Application of diodes, half wave rectifier

half wave rectifier

Int. finance management, Discuss the roles of international financial syste...

Discuss the roles of international financial system in international business

Actuators , Actuators  The actuator consists of the control surfaces...

Actuators  The actuator consists of the control surfaces and associated servomechanisms, and is used to change the missile attitude and trajectory or flight path.

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