dominicanking511
New member
The Midtown Market purchases apples from a local grower. The apples are purchased on Monday at $2.00 per pound, and the market sells them for $3.00 per pound. Any apples left over at the end of the week are sold to a local zoo for $0.50 per pound. The possible demands for apples and the probability for each are as follows.
Demand Probability
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20 0.10
21 0.20
22 0.30
23 0.30
24 0.10
The market must decide how many apples to order in a A week. Construct a payoff table for this decision situation?
I don't know how to determine whether or not any apples are left over at the end of the week.
Demand Probability
----------------------------------------
20 0.10
21 0.20
22 0.30
23 0.30
24 0.10
The market must decide how many apples to order in a A week. Construct a payoff table for this decision situation?
I don't know how to determine whether or not any apples are left over at the end of the week.