Question: Quantitative Methods for Business (MASC 20004) - Spring-2020 -CW2 (Assignment) - ALL-QP 2. Under an employment promotion programme, it is proposed to allow sales of

Quantitative Methods for Business (MASC 20004) - Spring-2020 -CW2 (Assignment) - ALL-QP 2. Under an employment promotion programme, it is proposed to allow sales of newspapers on the buses during off- peak hours. The vendor can purchase the newspaper at a (NN)% special discounted rate per copy against the selling price of one Rial. Any unsold copies are, however a dead loss. A vendor has estimated the following probability distribution for the number of copies demanded. (Replace NN as per the instruction given above) No of copies demanded 20 21 22 23 24 25 26 27 Probability 0.1 0.12 0.15 0.17 0.17 0.2 0.06 0.03 How many copies should he order so that his expected profit will be maximum? (15 Marks)

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