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Mr. Sartre runs a market stall selling vegetables and fruits. He buys a product for $20 per case. He can sell the product for $40

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Mr. Sartre runs a market stall selling vegetables and fruits. He buys a product for $20 per case. He can sell the product for $40 per case on his stall. The product is perishable and it is not possible to store it. Instead any cases unsold at the end of the day can be sold off as scrap for $2 per case. Purchase orders must be made before the number of sales is known. He has kept records of demand over the last 150 days Demand Number of days 10 20 30 45 75 30 Required: a. Prepare a summary of possible daily profit using a payoff table b. Advise Mr. Sartre. i. How many cases to purchase if he uses expected values ii. How many cases to purchase if he uses maximin/maximax iii. How many cases to purchase if he uses minimax regret

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