dolution
dolution.
Ben purchases strawberries for P45 a case and sells them for P120 a case. The rather high markup reflects the perishability of the item and the great risk of stocking it; the product has no value after the first day it is offered for sale. Ben were able to record its demand for the past 100 days.
Demand for the past 100 days were as follows:
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Order Paper Now| Daily Demand | No. of Days Demanded |
| 9 | 10 |
| 11 | 18 |
| 14 | 36 |
| 15 | 27 |
| 20 | 9 |
1. Using Maximax criterion, what will be the best alternative?
a. 9 cases
b. 11 cases
c. 14 cases
d. 15 cases
e. 20 cases
2. Using Maximin criterion, what will be the best alternative?
a. 9 cases
b. 11 cases
c. 14 cases
d. 15 cases
e. 20 cases
3. Using Laplace criterion, what will be the best alternative?
a. 9 cases
b. 11 cases
c. 14 cases
d. 15 cases
e. 20 cases
4. If alpha is equals to 0.35, what will be the best alternative using the Hurwicz Criterion?
a. 9 cases
b. 11 cases
c. 14 cases
d. 15 cases
e. 20 cases
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