Question: distribution 2 Example 15.2 The pattern of demand for a seasonal product is as follows: Demand in units) 3 4 7 8 Probability 1 005

distribution 2 Example 15.2 The pattern of demand

distribution 2 Example 15.2 The pattern of demand for a seasonal product is as follows: Demand in units) 3 4 7 8 Probability 1 005 0.10 0.15 0.20 0.20 0.15 0.10 005 The cost of product is Rs 80 per unit and the selling price is Rs 120. How many units should be purchased for the season so as to maximize the expected profit. Also, if the salvage price of the product is Rs 20, then would there be any change in the purchase decision? who EP

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