Question: ( Perishable goods ) : A retailer deals in a perishable commodity. The daily demand and supply are variables. The data for the past 5
Perishable goods: A retailer deals in a perishable commodity. The daily demand and supply are variables. The data for the past days, shows the following demand and supply.
The Retailer buys the commodity at K per kg and sells it at K per kg Any commodity that remains at the end of the day has no saleable value. Moreover, the loss unearned profit on an unsatisfied demand is K per kg Given the following pairs of random numbers, simulate day sales, demand, and profits:
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