9. The demand for a certain weekly magazine at a newsstand is a random variable with probability...
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9. The demand for a certain weekly magazine at a newsstand is a random variable with probability mass function p(i) = (10 − i)/18, i = 4, 5, 6, 7. If the magazine sells for
$a and costs $2a/3 to the owner, and the unsold magazines cannot be returned, how many magazines should be ordered every week to maximize the profit in the long run?
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Related Book For
Fundamentals Of Probability With Stochastic Processes
ISBN: 9780429856273
4th Edition
Authors: Saeed Ghahramani
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