Question must be answered in Excel:
| The Steak and chop Butcher Shop purchases steak from a local meatpacking house. The meat is purchased on Monday at $2.00 per pound, and the shop sells the steak for $3.00 per pound. Any steak left over at the end of the week is sold to a local zoo for $.50per pound. The possible demands for steak and the probability of each are shown in the following table: | ||
| Demand (lb.) | Probability | |
| 20 | 0.1 | |
| 21 | 0.2 | |
| 22 | 0.3 | |
| 23 | 0.3 | |
| 24 | 0.1 | |
| 1 | ||
| The shop must decide how much steak to order in a week. Construct a payoff table for this decision situation and determine the amoun of steak that should be ordered, using epected value. |
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more