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 properties and selection, conclusion

conclusion

Power systems, WHY VOLTAGE GENERATED IN MULTIPLES OF 11

WHY VOLTAGE GENERATED IN MULTIPLES OF 11

Communication, Can u provide some information about simple wireless transmi...

Can u provide some information about simple wireless transmitter and receiver.

3d sketch , I am a chemical engineering foundation year. I need your help ...

I am a chemical engineering foundation year. I need your help with my homework, its 3D sketch by using Google sketchup program?? I have not use it before. Or any other 3D sketch p

Define demat account?, Define Demat Account? What is the use of it? Dema...

Define Demat Account? What is the use of it? Demat indicates Dematerialization of reveal, in easy it is an consideration with which a individual can business in protection indus

Paint, What are the ingredients of paint. Explain?

What are the ingredients of paint. Explain?

Control engineering, what are the components, applications, benefits and dr...

what are the components, applications, benefits and drawbacks of control engineering?????

Barrier potential, Ask question #Minimum 100 words acwhat are the polaritie...

Ask question #Minimum 100 words acwhat are the polarities of barrier potential cepted#

Orthographic drawing, How do you draw in othographics

How do you draw in othographics

European vanilla Call option with strike price, Let C(K) denote a European ...

Let C(K) denote a European vanilla Call option with strike price K. Assume that all options are identical except for strike price, and strike prices satisfy K1 Question 1: What ar

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