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For which of the following spare parts contracts for your KX2000 would it be important to explicitly model the uncertainty in order to find expected
For which of the following spare parts contracts for your KX2000 would it be important to "explicitly model" the uncertainty in order to find expected value of the output? Also, please explain why. (For the remaining ones, it's potentially "safe" to ignore the uncertainty. Recall, that "safely ignoring" uncertainty doesn't mean that you will ignore the information about uncertainty in inputs completely, but it means that you can compute the expected value of the output using a deterministic model and expected values of the inputs.) Here are the different equations that relate the penalty you pay (P) with how late you are (L) for the different contracts you have with your customers: a. If you are late with a shipment, you need to pay a penalty. The lateness ("L") is random. The penalty " P " you pay =3L2. (That is, if you double the lateness, you quadruple the penalty). b. The same, but P=3 sqrt(L). c. The same, but P=10L. d. The same, but P=IF(L
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