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

Array, sorting order of arra

sorting order of arra

Calculate the support reaction, Calculate the support reaction: Q: A ...

Calculate the support reaction: Q: A beam 8m long is hinged at point A and supported on rollers over smooth surface inclined at 300 to horizontal at point B . The beam

Compute the coefficient of friction at block, Compute the coefficient of fr...

Compute the coefficient of friction at block: The frame shown in Figure rotates about a vertical axis. The coefficient of friction under block A is 0.4. Compute the coefficien

Kinematics-dynamics-kinematic link, Kinematics: This is that branch of Th...

Kinematics: This is that branch of Theory of Machines that deals with the relative motion among the several machine parts; without referring forces or torques that cause motion.

Determine the location of the hydraulic jumps - water depths, Problem: In H...

Problem: In HEC-RAS, model this system as 1 reach with cross-sections every 2 ft. For all 3 discharges (labeled as: design, low, flood), (a) Determine the water depths 10 ft fro

Module assembly site preparation, Q. Module Assembly Site Preparation? ...

Q. Module Assembly Site Preparation? To set a module on the piles installed on project site, the following preparations shall be made: The Designer shall provide design elev

Angle of projection, A ball is thrown from a point with a speed V  at an an...

A ball is thrown from a point with a speed V  at an angle of projection  θ . From the same point and  at the same instant, a person starts running with a constant speed V/2 to catc

Piston leaves the bottom stops , Consider the frictionless piston-cylinder ...

Consider the frictionless piston-cylinder set-up with a linear spring as is shown below. The cylinder has an internal cross-sectional area of AC = 0.1 m2. Distances  y 1 and  y 4

Describe the extrution process, Q. Describe the extrution process? The ...

Q. Describe the extrution process? The extrusion process, in many cases produces material in an intermediate form for subsequent reprocessing to its final component form. The p

Either wheel is wobbling motorcycle problem, If Either Wheel is Wobbling ...

If Either Wheel is Wobbling Causes of Problem Remedy Excessive wheel bearing play Distorted rim Improperly

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