Consider Example 4b of Chapter 4, but now suppose that the seasonal demand is a continuous random

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Consider Example 4b of Chapter 4, but now suppose that the seasonal demand is a continuous random variable having probability density function f. Show that the optimal amount to stock is the value s∗ that satisfies
F(s∗) = b / b + ℓ
where b is net profit per unit sale, ℓ is the net loss per unit unsold, and F is the cumulative function of the seasonal demand. Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...

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If s units are stocked and the demand is X then the profit Ps is given b...View the full answer

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