Question
Lets assume that you are purchasing and selling a good. With a 15 percent of probability, demand to this good takes place as 20 units,
Lets assume that you are purchasing and selling a good. With a 15 percent of probability, demand to this good takes place as 20 units, with 40 percent probability demand occurs as 45 units, with a 20 percent probability demand takes place as 25 units and finally with a 25 percent probability demand occurs as 35 units. Lets assume that you order 50 pieces of this good. The cost of this good is 25TL/piece. Calculate the expected cost while sales price is 175TL/piece and the cost of unmet demand and surplus are 4TL/piece and 3TL/piece, respectively.
Calculate the expected profit for 100000 observations (number of trials) by using Python.
Your codes are expected to return a single output value, which is the expected profit.
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