Mathematics, 28.06.2020 02:01 chavez0
Estion 4
A shop is planning an order for a popular Christmas festive season product. Demand for the
product usually starts from first week of December till first week of January and reduces sharply
thereafter. For this reason, and to stimulate sales for leftovers, the product is sold at a significantly
reduced price from the second week of January to the fourth week of January. Any leftover after
the fourth week of January goes waste. The table below gives past data on total demand for the
period from first week of December to first week of January, and from second week of January to
fourth week of January, together with their respective chances of occurrence. The product can be
purchased at a wholesale price of GHS60 per unit for a pack containing 600 products, GHS57 per
unit for a pack containing 800 products, and GHS52 per unit for a pack containing 1000 products.
The shop plans to sell the product for GHS80 per unit from first week of December to first week
of January, and at a reduced price of 30% thereafter.
1st week of December to 1st week of January 2nd week of January to 4th week of
January
Demand Probability Demand Probability
500 0.1 320 0.5
600 0.3 180 0.3
750 0.4 130 0.2
850 0.2
i. What is the expected profit when a pack containing 600 products is ordered? (4 marks)
ii. What the expected profit when a pack containing 800 products is ordered? (3 marks)
iii. What is the expected profit when a pack containing 1000 products is ordered? (3 marks)
iv. What is the standard deviation of the profit when a pack of 800 is ordered? State any
assumption you used in calculating this value and with justification. (5 marks)
v. What is the standard deviation of the profit when a pack of 1000 is ordered? Apply the same
assumption you used in (iv) above. (5 marks)
vi. Which of the two, a pack of 800 or a pack of 1000 products should be ordered in order to
minimize risk associated with profit? Give reasons for your answer.
Answers: 3
Mathematics, 21.06.2019 23:10
Point s lies between points r and t on . if rt is 10 centimeters long, what is st? 2 centimeters 4 centimeters 6 centimeters 8 centimeters
Answers: 2
Mathematics, 21.06.2019 23:30
Find each value of the five-number summary for this set of data. [note: type your answers as numbers. do not round.] 150, 120, 136, 180, 158, 175, 124, 162 minimum maximum median upper quartile lower quartile
Answers: 1
Mathematics, 22.06.2019 00:00
The statements below can be used to prove that the triangles are similar. ? △abc ~ △xyz by the sss similarity theorem. which mathematical statement is missing? ∠b ≅ ∠y ∠b ≅ ∠z
Answers: 3
Mathematics, 22.06.2019 00:00
Urgent! 20 points! here is a you are the new manager at trusty goods wholesale produce. you need to figure out how to adjust the amount of produce in your notes after the events of the day: you got 5 more crates of bananas someone returned 2 crates of apples a worker dropped a crate of grapes (oh no! , you had to throw them out) you sold a crate of bananas you sold 5 crates of apples can you write an expression to describe your day using: "a" for crates of apples "b" for crates of bananas and "g" for crates of grapes? make sure the expression is in simplest form question 2 (3 points) explain your steps using sentences.
Answers: 1
Estion 4
A shop is planning an order for a popular Christmas festive season product. Demand for the...
History, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Arts, 22.01.2021 22:10
Health, 22.01.2021 22:10
History, 22.01.2021 22:10
Social Studies, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10
Mathematics, 22.01.2021 22:10