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

Financial leverage Multiplayer , How i can have the FLM if i dont have the ...

How i can have the FLM if i dont have the Total Assets or Shareholders Equity

Draw a block diagram of the control loop, A speed control system has an amp...

A speed control system has an amplifier-motor-control element capable of maintaining a speed of 4000 rpm at the output shaft with no external load and an input of 8 mV to the ampli

Law of superposition., explain easily

explain easily

Fluid mechanics, A body, with a volume of 2m^3, weights 40 kN. Determine it...

A body, with a volume of 2m^3, weights 40 kN. Determine its weight when submerged in liquid with S= 1.59.

Allowances for pattern, Allowances for pattern : A pattern is always made ...

Allowances for pattern : A pattern is always made larger than the required size of the casting in order to allow for various factor, such as shrinkage, machining, distortion and r

Parabola tangent method, answer

answer

Combustion chamber injection system - aircraft engine , Combustion chamber ...

Combustion chamber injection system: Injecting a water or water/methanol mixture into the combustion chambers increases the mass flow through the turbine and the high volumetri

Fractional distillation in fuel - aircraft maintenance , Fractional distill...

Fractional distillation This process is carried out in a fractionating column, which has a series of trays as shown in the figure. The effect of the superheated steam on the h

LIBS, Laser induced breakdown spectroscopy

Laser induced breakdown spectroscopy

#LED MOVING DISPLAY, want a circuit manual of previous led moving dispaly

want a circuit manual of previous led moving dispaly

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