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4. Under the revision of government policies, it is proposed to allow sales of Pocket Calculators on the metro trains during off-peak hours. The vendor can purchase the pocket calculator at a special discounted rate of (c + d) Baisa per calculator against the selling price of (2 * c + 2 * d) Baisa. Any unsold Calculators are, however a dead loss. A vendor has estimated the following probability distribution for the number of calculators demanded. No. of calculators 10 11 12 13 14 15 demanded Probability 0.05 0.14 0.45 0.2 0.1 0.06 How many Calculators should he order so that his expected profit will be maximum?

4. Under the revision of government policies, it is proposed to allow sales of Pocket Calculators on the metro trains during off-peak hours. The vendor can purchase the pocket calculator at a special discounted rate of (c + d) Baisa per calculator against the selling price of (2 * c + 2 * d) Baisa. Any unsold Calculators are, however a dead loss. A vendor has estimated the following probability distribution for the number of calculators demanded. No. of calculators 10 11 12 13 14 15 demanded Probability 0.05 0.14 0.45 0.2 0.1 0.06 How many Calculators should he order so that his expected profit will be maximum?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Note:  c=7 , d=6

4. Under the revision of government policies, it is proposed to allow sales of Pocket Calculators on the metro trains during off-peak hours. The vendor can purchase the pocket calculator at a special discounted rate of (c + d) Baisa per calculator against the selling price of (2 * C + 2 * d) Baisa. Any unsold Calculators are, however a dead loss. A vendor has estimated the following probability distribution for the number of calculators demanded. No. of calculators 10 11 12 13 14 15 demanded Probability 0.05 0.14 0.45 0.2 0.1 0.06 How many Calculators should he order so that his expected profit will be maximum?
Transcribed Image Text:4. Under the revision of government policies, it is proposed to allow sales of Pocket Calculators on the metro trains during off-peak hours. The vendor can purchase the pocket calculator at a special discounted rate of (c + d) Baisa per calculator against the selling price of (2 * C + 2 * d) Baisa. Any unsold Calculators are, however a dead loss. A vendor has estimated the following probability distribution for the number of calculators demanded. No. of calculators 10 11 12 13 14 15 demanded Probability 0.05 0.14 0.45 0.2 0.1 0.06 How many Calculators should he order so that his expected profit will be maximum?
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