Create a pay - off table, Mechanical Engineering

Assignment Help:

Bhasker operates a retail shop and sells the high priced "Hot Food" thermoware. Each unit I priced at Rs.250. Experience has shown that the weekly demand schedule for items is as follows :

Demand : 0 1 2 3 4 5 6 7

Probability: 0.082 0.205 0.214 0.184 0.134 0.097 0.058 0.026

Bhasker can get the product on weekly basis from the wholesaler. He must order a fixed quantity a week in advance and any unsold unit have to be returned at the end of the week. The cost of the unit is Rs.150 and Rs.50 is charged for the unit returned, Create a pay-off table and suggest the best strategy for Bhasker. What are the EVPI and EMV for this situation ?


Related Discussions:- Create a pay - off table

Normal and standard temperature pressure - stp ntp, Norma l Temperature an...

Norma l Temperature and Pressure (N.T.P.): The conditions of temperature and pressure at 0°C (273K) and 760 mm of Hg respectively are called normal temperature and pressure (

Illustrate the types of special foundations, Illustrate the Types of specia...

Illustrate the Types of special foundations Special foundations find use under following situation: i)  To meet the demands that are arising from uncommon environmental cond

#flow rate in turbochargers, What is the amount of air is supplied to engin...

What is the amount of air is supplied to engine via turbochargers and how their sizes vary from engine to engine ?

Objectives-object-oriented control architecture , Objectives After stud...

Objectives After studying this section, you should be capable to understand: Cell control and modeling, Context level data flow diagram, A common cell control sy

Best air pressure, Research on Best air pressure :             Once we ...

Research on Best air pressure :             Once we had green light to go on with sand blasting process. We had conducted a few experiment testing and analysis. First of all we

Define 3-d lathe tool dynamometer, Define 3-D lathe Tool Dynamometer It...

Define 3-D lathe Tool Dynamometer It is possible to measure three dimensional cutting tool component with the help of 3-D lathe tool dynamometer. In spite of that we are gone f

Heat balance sheet for an i.c engine, (a) Briefly explain the following per...

(a) Briefly explain the following performance parameters of I.C. engine : (i) Indicated men effective pressure (Pim) (ii) Brake power (BP) (iii) Indicated power (IP) (

Write Your Message!

Captcha
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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd