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Mr. Mashabela operates a small novelty shop. Each morning he purchases a small quantity of daily computerized horoscopes at a cost of R15.00 per item.
Mr. Mashabela operates a small novelty shop. Each morning he purchases a small quantity of daily computerized horoscopes at a cost of R15.00 per item. He resells them later in the day for R25.00 per horoscope. For the past 200 days, Mr. Mashianoke's demand has been 6 items on 60 days, 7 items on 60 days, 8 items on 40 days, 9 items on 20 days and 10 items on 20 days. The horoscopes come in packages of 2, which forces Mr. Mashabela to purchase an even number, and the horoscopes are salable for one day only. At the end of each working day, however, Mr. Mashabela can sell any remaining horoscopes to a night own peddler for R10.00 per item AL) Set up the payoff matrix for the above problem, (9) Assuming the probabilities of the occurrence of the state of nature is unknown, how many computerized horoscopes should the decision maker purchase based on opportunistic loss? (5) Mr. Mashabela operates a small novelty shop. Each morning he purchases a small quantity of daily computerized horoscopes at a cost of R15.00 per item. He resells them later in the day for R25.00 per horoscope. For the past 200 days, Mr. Mashianoke's demand has been 6 items on 60 days, 7 items on 60 days, 8 items on 40 days, 9 items on 20 days and 10 items on 20 days. The horoscopes come in packages of 2, which forces Mr. Mashabela to purchase an even number, and the horoscopes are salable for one day only. At the end of each working day, however, Mr. Mashabela can sell any remaining horoscopes to a night own peddler for R10.00 per item AL) Set up the payoff matrix for the above problem, (9) Assuming the probabilities of the occurrence of the state of nature is unknown, how many computerized horoscopes should the decision maker purchase based on opportunistic loss
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