Zed and Adrian and run a small bicycle shop called Z to A Bicycles. They must...

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Zed and Adrian and run a small bicycle shop called "Z to A Bicycles". They must order bicycles for the coming season. Zed and Adrian estimate that the demand for bicycles this season will be 20, 30, 40, or 50 bicycles with probabilities of 0.2, 0.4, 0.3, and 0.1 respectively. Orders for the bicycles must be placed in quantities of twenty (20). The cost per bicycle is $70 if they order 20, $64 if they order 40, $56 if they order 60. The bicycles will be sold for $72 each if they are not on sale. Any bicycles left over at the end of the season will go on sale and will be sold at $52 each. Create a payoff table that helps Z to A Bicycle decide how many bicycles (20, 40, or 60) to order. Complete the Following Payoff Table: Order20 Order40 Order60 Demand=20 *** Demand=30 *** Demand=40 ⠀ Demand=50 *** : Zed and Adrian and run a small bicycle shop called "Z to A Bicycles". They must order bicycles for the coming season. Zed and Adrian estimate that the demand for bicycles this season will be 20, 30, 40, or 50 bicycles with probabilities of 0.2, 0.4, 0.3, and 0.1 respectively. Orders for the bicycles must be placed in quantities of twenty (20). The cost per bicycle is $70 if they order 20, $64 if they order 40, $56 if they order 60. The bicycles will be sold for $72 each if they are not on sale. Any bicycles left over at the end of the season will go on sale and will be sold at $52 each. Create a payoff table that helps Z to A Bicycle decide how many bicycles (20, 40, or 60) to order. Complete the Following Payoff Table: Order20 Order40 Order60 Demand=20 *** Demand=30 *** Demand=40 ⠀ Demand=50 *** :

Answer rating: 100% (QA)

Solution Demand20 Order 20 Order40 Order60 Demand30 ... View the full answer