Login

Create Account
+14156709189
info@expertsmind.com
Submit Homework/Assignment
Get quote & make Payment
Get Solution
case1, Other Engineering
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?
Posted Date: 6/4/2012 3:31:13 PM  Location : United States
Ask an Expert
Related Discussions:
case1, Assignment Help, Ask Question on case1, Get Answer, Expert's Help, case1 Discussions
Write discussion on case1
Your posts are moderated
Write your message here..
Related Questions
Projects., Ten projects only agricultural engineer will have say
Ten projects only agricultural engineer will have say
..Evans Diagram, would you help with Evans diagram( draw and explain) for I...
would you help with Evans diagram( draw and explain) for Iron in seawater,and how variability of Oxygen concentration affect the electrode potential vs.current?
Propeller pitch control, Propeller pitch control: Before looking at pro...
Propeller pitch control: Before looking at propeller pitch control an understanding of the relationship between the 'Power Lever' and the 'RPM (condition / speed) Lever' with r
Mass balance reactions, A continuous fractionating column separates benzene...
A continuous fractionating column separates benzene and toluene into two product streams. We were given all the mass fractions which makes this question easy because all we must ca
I need help with this assignment , i will need this assignment to be solved...
i will need this assignment to be solved .
Lamination of plastics, Q. Write short note on laminating. ...
Q. Write short note on laminating. OR Explain the Laminating processes.
Diffusion, distingush between short range and long range diffusion
distingush between short range and long range diffusion
What is the difference between real money & nominal money?, What is the dif...
What is the difference between real money & nominal money? Moderate cash is relevant to the evaluate of keeping track of. nominal figure is what is published on the expenses. w
Construction techonology, ASSIGNMENT
ASSIGNMENT
Weighted average cost of capital, Using this link and the information there...
Using this link and the information therein ( http://www.sec.gov/Archives/edgar/data/1110452/000119312507151600/d20f.htm#tx19738_13.) find Air France’s weighted average cost of ca
Assignment Help
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
ExpertsMind Services
Online Tutoring
Projects Assistance
Exam Preparation
Coursework Help
Programming Courses
Engineering Courses
Why Us ?
~Experienced Tutors
~24x7 hrs Support
~Plagiarism Free
~Quality of Work
~Time on Delivery
~Privacy of Work