Login
|
Create Account
+1-415-670-9189
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
Dc motor.., what is a domain
what is a domain
Propeller efficiency, PROPELLER EFFICIENCY: The propeller is 80 - 87% e...
PROPELLER EFFICIENCY: The propeller is 80 - 87% efficient up to approximately 400 mph. Generally, beyond this performance will fall off, although new materials and improved bl
Slip and slip plane, Q. What is slip? What is slip plane? What are principa...
Q. What is slip? What is slip plane? What are principal if slip planes and slip direction for BCC, FCC and HCP crystal? Ans. X-ray diffraction studies show that the crystalli
How would undertake a waste audit, Question: a) Assume that you are the...
Question: a) Assume that you are the director of the Solid Waste Unit of the Ministry of Local Government. Explain how you would undertake a waste audit at the level of a munic
Image orthicon camera tube, What are the disadvantages of Image Orthicon Ca...
What are the disadvantages of Image Orthicon Camera tube
The oil pressure indicator - aircraft engine, The oil pressure indicator : ...
The oil pressure indicator : The oil pressure indicator has a dial normally calibrated in pounds per square inch (psi). The indicator may have max. limit markers, but will alw
Crystal structure, how can we determine the crystal structure of material b...
how can we determine the crystal structure of material by having interplanar spacing d?
The world of fiance, Answer the following questions: What are the three for...
Answer the following questions: What are the three forms of a business organization? What are the advantages and disadvantages of each form? For a corporation, what is the overall
Zeroth law of thermodymanics, Explain with the aid of sketch of zeroth law ...
Explain with the aid of sketch of zeroth law of thermodynamics
#Parcellary Survey, What is Parcellary Survey?
What is Parcellary Survey?
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