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







Related Discussions:- case1, Assignment Help, Ask Question on case1, Get Answer, Expert's Help, case1 Discussions

Write discussion on case1
Your posts are moderated
Related Questions
BLADE TWIST: Rotational velocity and its effect on the Angle of Attack depends on the radius of the blade element in question. A blade element near the blade root (hub) will h

Genetic Algorithm Procedure Generate a "pool" of "genes" randomly These genes are then "mated" to produce the "mated" to produce the next generation Best genes have a

The unity gain follower: The somewhat lengthy term operational amplifier will now be dropped and it will be referred to, as most people do, simply as the op amp.  The simplest

Flow Solver The flow solver of FP utilises data produced by the grid generator, together with data read from an input file named FLOW.DAT, and proceeds to calculate the solutio

Expertsmind.com offers  Cell Arrays matlab assignment help In matlab, Cell arrays are just like frequent arrays in that they are "indexed" details of information, with an out

Vacuum Investment Casting : TITANIUM INVESTMENT CASTING uses lost-wax investment tooling to cast intricate shapes in titanium, zirconium and their alloys. A wax pattern is coa

scaning electro microscope,transmission microscope

Logic Gates: The term logic in electronics refers to the representation and logical manipulation of numbers usually in a code employing two symbols. i.e., bits. An electron

I need the code for a multivariate structural time series model with multiple cyclical components - any language is good.

h(t) is an analog IIR filter, with the poles lambda_1 = -1, lambda_2 = -1+i, lambda_3 = -1-i and no zeros. let h[n] be a digital IIR filter with poles which defined by e^lambda_i a