Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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.
a) Construct a conditional payoff table.
b) What is the best decision according to the following criteria?
- Optimistic criterion
- Pessimistic criterion
- Equally likely
c) Construct an opportunity loss table.
d) What is the Minimax regret?
e) Assume the following probability distribution:
Demand
Probability
0 kg
.05
25 kg
.10
50 kg
.30
75 kg
.35
100 kg
.20
This type of sampling is also known as chance sampling or probability where each and every item in the population has an equal change of inclusion in the sample and one of the poss
Variation Coefficient The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of variation. Thi
How to interpret Anova
Armitage-Dollmodel The model of carcinogenesis in which the basic idea is that the essential variable determining the change in the risk is not age, but time period. The model
what are the types of sampling errors and their causes?
Statistical inference is that branch of statistics Statistical inference is that branch of statistics which is concerned with using probability concept to deal with uncertainty
#question.differentiate between historigram and histogram.
Variance analysis In spending budget (or control sales in general), a change is the change between an allocated, thought out or conventional quantity and the actual quantity incur
The data in the table below are the results of a random sample of recent home sales in your neighborhood that your boss has asked you to use to estimate the relationship between th
Barker Company has a single product called a Zet. The company normally produces and sells 80,000 Zets each year at a selling price of $40 per unit. The company’s unit costs at this
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd