An online retailer wants to sell scarfs for the winter season with three designs; A, B, C. Temperature Warm (0.20) Average Cold (0.10) (0.70) A 100 300 350 130 250 320 70 175 450 Calculate the highest value you would pay for a highly reliable forecast. (Hint: EV of PI) 0 8 O 32 O 16 O 25

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Rate of Change

The relation between two quantities which displays how much greater one quantity is than another is called ratio.

Slope

The change in the vertical distances is known as the rise and the change in the horizontal distances is known as the run. So, the rise divided by run is nothing but a slope value. It is calculated with simple algebraic equations as: