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

Track renewal, Track Renewal: Need for Track Renewal Normal m...

Track Renewal: Need for Track Renewal Normal maintenance is able to keep up the track standards only to a limited extent. The track gets overaged or the speeds and tr

Calculate the depth of water, (Buoyancy of a submerged body; compressibilit...

(Buoyancy of a submerged body; compressibility of air) A grade 4 science student inverts a cup full of air into a water tank. If it takes 1 lb of force to hold the cup down 3

Brittle fracture, Dear Sir I would to know what is the min. time required...

Dear Sir I would to know what is the min. time required for carbon steel tube A214 @ zero C to 50 C

Show the types of changes in project, Q. Show the types of Changes in proje...

Q. Show the types of Changes in project? During the development and execution of a project, the following changes can occur:  Scope of work changes  Cost deviation

Calculate force required for equilibrium, Calculate force required for equi...

Calculate force required for equilibrium: A member ABCD is subjected to the point loads P 1 , P 2 , P 3   an d P 4   as shown in the figure given below

Corrosion assessment for water disposal system, Q. Corrosion Assessment for...

Q. Corrosion Assessment for Water Disposal System? Due to the high salt contents and oxygen contamination, disposal water is highly corrosive to CS material. HCL line and in

Shear stress, write the assumption made in derivetion of shear stress produ...

write the assumption made in derivetion of shear stress produced in circular shaft subjected to torsion

Thermodynamics, can u please explain me d concept of 2nd law of thermodynam...

can u please explain me d concept of 2nd law of thermodynamics. I am not so sure about it ??

Beams, a beam ABC is simply supported at A and C and caries a couple equal ...

a beam ABC is simply supported at A and C and caries a couple equal to 100kN applied clockwise at B

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