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

Rockwell hardness test, Rockwel l Hardness Test: The specimen is subj...

Rockwel l Hardness Test: The specimen is subjected to a major load for about 15 seconds after the initial load. ASTM says 13 scales for testing of wide range of materials. Th

Safety functions - industrial safety, Safety Functions - Industrial Safety ...

Safety Functions - Industrial Safety In the statement about safety organization various functions have been mentioned. Yet, a clear description is lacking. Without much elabor

Heat treatment, #question.what are process of annealing? .

#question.what are process of annealing? .

Load, What is load? Sol. : A load can be defined as the combined eff...

What is load? Sol. : A load can be defined as the combined effect of external forces acting on the body. The load is applied on body whereas stress is induced in material of

Determine the economic order quantity, Determine the economic order quantit...

Determine the economic order quantity: Determine the economic order quantity and the reorder point. Given Annual demand (D) = 2,000 units Average daily demand (d) = 2,00

Find out the maximum and minimum bending stress in beam, Q.  A steel bar 10...

Q.  A steel bar 10 cm broad and 8 mm thick is subjected to bending moment. The radius of the neutral surface is 100 cm. Found out the maximum and minimum bending stress in beam.

Derive the finite element formulation-galerkin method, Derive the finite el...

Derive the finite element formulation  for a tapered bar element using Galerkin's method.                                                 1- Start with. 2- Use and as shap

#title.kaplan turbine., #q(b) Illustrate governing mechanism of Kaplan turb...

#q(b) Illustrate governing mechanism of Kaplan turbine.uestion..

Solve the equation by newton raphson method, Calculate root of equation 3x ...

Calculate root of equation 3x = 100 cosx + 1 by Newton Raphson method correct to three decimal places Calculate root of equation xe x = cosx by Secant method correct to three d

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