The Craft Library brews a variety of craft beers in Maboneng and has to decide which one of four potential selling prices to charge for the new caramel lager. The contribution depending on the combination of selling price and demand is shown in the payoff table below: Demand level Selling price R20 R30 R35 R40 Good R70 000 R80 000 R25 000 R40 000 Moderate R40 000 R50 000 R60 000 R30 000 Weak R60 000 R55 000 R30 000 R32 000 If the minimax criterion is applied, determine the price at which Wings Airlines should sell the tickets. A. R35 B. R40 C. R30 D. R20
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
The Craft Library brews a variety of craft beers in Maboneng and has to decide which one of four potential selling prices to charge for the new caramel lager. The contribution depending on the combination of selling price and demand is shown in the payoff table below:
|
Demand level |
Selling price |
|||
|
|
R20 |
R30 |
R35 |
R40 |
|
Good |
R70 000 |
R80 000 |
R25 000 |
R40 000 |
|
Moderate |
R40 000 |
R50 000 |
R60 000 |
R30 000 |
|
Weak |
R60 000 |
R55 000 |
R30 000 |
R32 000 |
If the minimax criterion is applied, determine the price at which Wings Airlines should sell the tickets.
| A. |
R35 |
|
| B. |
R40 |
|
| C. |
R30 |
|
| D. |
R20 |
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