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

Variables and quantifiers in first-order logic, Variables and Quantifiers i...

Variables and Quantifiers in First-Order Logic - Artificial intelligence: Now suppose that we wanted to say that there is a meal at the Red Lion which costs only three pounds.

Finance Project, You are interested in proposing a new venture to the manag...

You are interested in proposing a new venture to the management of your company. Pertinent financial information is given below. BALANCE SHEET Cash 2,000,000 Accounts Payable and

Mr tiy, Hi, do u help with HYSYS assignment ?

Hi, do u help with HYSYS assignment ?

Mine ventilation assignment, Describe the method of undertaking an anemomet...

Describe the method of undertaking an anemometer traverse for a airflow

Microwaves and radars, what is pin daiode?

what is pin daiode?

Aad instruction, Ask question #Minimum 100 words acexplanation of aad with ...

Ask question #Minimum 100 words acexplanation of aad with examplescepted#

Asteroid belt, Why is there an asteroid belt? - Rocky planetismals survive...

Why is there an asteroid belt? - Rocky planetismals survived in the asteroid belt between Mars and Jupiter because they did not grow together into a planet. - Jupiter’s gravity, t

Explain in brief about priority rules for scheduling?, Question 1 A large ...

Question 1 A large number of forecasting methods are available. Discuss the categories of forecasting methods Question 2 Explain how economic order quantity can be calculated

Iosipescu shear test, A second way to determine the shear modulus is to use...

A second way to determine the shear modulus is to use the Isopescu shear test. The sample is placed in a jig and loaded as shown. Under load, a region of pure shear exists

Static and dynamic balancing - propellers, STATIC & DYNAMIC BALANCING ...

STATIC & DYNAMIC BALANCING STATIC BALANCE When the weight distribution about the propeller axis is equal, with the propeller in any position, it is said to have static bal

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