(Dynamic Programming) John and Marsha have their hearts set on a special washer dryer set that they must buy within the next 6 months The set normally retails for $2000 At the start of each month, the price of the washer dryer set is uncertain and can be offered at full price or at one of three possible discounts The Table below describes the discounts, the probabilities, and the final prices DISC PROB PRICE 0 0 5 2000 10 0 3 1800 15 0 1 1700 25 0 1 1500 Based on this information, describe the optimal Buy Wait strategy John and Marsha should follow to obtain their washer dryer set at minimum expected cost, and indicate the optimal expected value for each period In particular, what should John Marsha expect to spend at the beginning of the six month period

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Question: (Dynamic Programming) John and Marsha have their hearts set on a special washer/dryer set that they must buy within the next 6 months. The set

(Dynamic Programming) John and Marsha have their hearts set on a special washer/dryer set that they must buy within the next 6 months. The set normally retails for $2000. At the start of each month, the price of the washer/dryer set is uncertain and can be offered at full price or at one of three possible discounts. The Table below describes the discounts, the probabilities, and the final prices.

DISC	PROB	PRICE
0%	0.5	2000
10%	0.3	1800
15%	0.1	1700
25%	0.1	1500

Based on this information, describe the optimal Buy/Wait strategy John and Marsha should follow to obtain their washer/dryer set at minimum expected cost, and indicate the optimal expected value for each period. In particular, what should John & Marsha expect to spend at the beginning of the six-month period?

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