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Determine the mean of the demand. (Note: = E(X)=EXIPi.) What is E[3X-4X+1000]? Determine the standard deviation of the demand. (Hint: First calculate variance using
Determine the mean of the demand. (Note: = E(X)=EXIPi.) What is E[3X-4X+1000]? Determine the standard deviation of the demand. (Hint: First calculate variance using V(X) = E[X]-E[X].) When the product's price is $20/unit, determine the variance of the monthly revenue. (Note: V(ax) = a*V(X).) Case High demand Medium demand Low demand P 0.1 0.5 0.4 Monthly Demand (X, thousand units) 32 24 10
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From the given data demandx i p i 32 01 24 05 10 04 We have to determine the mean of the dema...
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Cost management a strategic approach
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
5th edition
73526940, 978-0073526942
