4. The manager of a book has to decide the number of copies of a particular tax...
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4. The manager of a book has to decide the number of copies of a particular tax law book to order. A book costs Rs 60 and is sold for Rs 80. Since some of the tax laws change year after year, any copies unsold while the edition is current must be sold for Rs 30. From past records, the distribution of demand for this book has obtained as follows:
Using the following sequence of random numbers, generate data on demand for 20 time periods (Years). Calculate the average profit obtainable under each of the course of action open to the manager.
What is the optimal policy?
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