Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i need the answer of ques 23 bcci AaBbC AaBbcc Aab 1 No Spac. Heading 1 Heading 2 Title Normal Paragraph Styles 22. A vendor
i need the answer of ques 23 bcci AaBbC AaBbcc Aab 1 No Spac. Heading 1 Heading 2 Title Normal Paragraph Styles 22. A vendor sells fresh flowers bundled into small units. He waits for his supplier to deliver fitu units of flowers each morning. He can only sell fresh flowers (not yesterday's leftovers) and has developed the following probability distribution of daily demand for this item: 1 Demand Probability 0 5% 20% 40% 3 25% 4 10% Unit cost to acquire = $.60; unit selling price = $1.20: Salvage value (from a charitable organization) = $.20 per unit. Using net profit as a payoff, and the expected value criterion, how many units should the vendor order each day to maximize profit over the long-term? a c.3 b. 2 d. 4 1 23. Refer to the previous question. The most the vendor should be willing to pay for any information concerning demand (i.e. the value of perfect information) is: $1.29 $1.39 b. $0.90 d $0.39 a of 45.000 boxes per vear to operate its
i need the answer of ques 23
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started