A young entrepreneur will be operating a firecracker stand for the Fourth of July. He has time

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A young entrepreneur will be operating a firecracker stand for the Fourth of July. He has time to place only one order for the firecrackers he will sell from his stand. After obtaining the relevant financial data and some information with which to estimate the probability distribution of potential sales, he now needs to determine how many firecracker sets he should order to maximize his expected profit under different scenarios.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Introduction to Operations Research

ISBN: 978-1259162985

10th edition

Authors: Frederick S. Hillier, Gerald J. Lieberman

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