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

Metallurgy assignment, Hi I need someone to help me to do a metallurgy assi...

Hi I need someone to help me to do a metallurgy assignment

Shell-mould casting, Shell-mould Casting is variant of the resin bonded sa...

Shell-mould Casting is variant of the resin bonded sand technique for casting steel, iron or non-ferrous alloys. The mould is made by a mixture of fine sand (100 - 150 mesh) an

calculate the input signal u and maximum speed, The purpose of a cruise co...

The purpose of a cruise control is to keep the velocity of a car constant. The driver drives the car at the desired speed, the cruise control system is activated by pushing a butto

QAM constellation diagram.., Draw the QAM constellation diagram of 101101...

Draw the QAM constellation diagram of 10110100

Medical Optics, what are wavefronts and how are they useful in the field o...

what are wavefronts and how are they useful in the field of optics and medicine?

Blasting, Students are to undertake a tunnel blast design for the following...

Students are to undertake a tunnel blast design for the following conditions: • Tunnel is 5.5m wide by 5.5.m high • Rock is a granite with a UCS of 300 MPa • Drill hole diameter is

Irr, How do you calculate IRR

How do you calculate IRR

Mechanics, an electric bulb weighing 15n hangs from a point C by 2 strings ...

an electric bulb weighing 15n hangs from a point C by 2 strings AC and BC .string AC is inclined at 60degree to horizontal and BC at 45 degree to vertical.find tension in string.

Amplifiers, simplied hybrid model of cc amplifier

simplied hybrid model of cc amplifier

Network assisted mobile computing with optimal upli, i want the uml and dfd...

i want the uml and dfd diagrams of the project

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