Mathematics, 19.03.2020 06:15, mackenziemelton26
Suppose the store owner actually pays $2.00 for each copy of the magazine and the price to customers is $4.00. If magazines left at the end of the week have no salvage value, is it better to order three or four copies of the magazine? (Hint: For both three and four copies ordered, express net revenue as a function of demand X, and then compute the expected revenue.)x 1 2 3 4 5 6p(x) 1/14 1/14 3/14 4/14 2/14 3/14
Answers: 3
![E[R_{3}(X)]=\sum R_{3}(X)\times P (X)\\=(-2\times \frac{1}{14})+(2\times \frac{1}{14})+(6\times \frac{3}{14})+(6\times \frac{4}{14})+(6\times \frac{2}{14})+(6\times \frac{3}{14})\\=5.143](/tpl/images/0553/6253/da30c.png)
![E[R_{4}(X)]=\sum R_{4}(X)\times P (X)\\=(-4\times \frac{1}{14})+(0\times \frac{1}{14})+(4\times \frac{3}{14})+(8\times \frac{4}{14})+(8\times \frac{2}{14})+(8\times \frac{3}{14})\\=5.71](/tpl/images/0553/6253/1fc8a.png)
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