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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
In Example 4b, suppose that the department store incurs an additional cost of c for each unit of unmet demand. (This type of cost is often referred to as a goodwill cost because the store loses the goodwill of those customers whose demands it cannot meet.) Compute the expected profit when the store stocks s units, and determine the value of s that maximizes the expected profit.
Example 4b
From a group of 5 women and 7 men, how many different committees consisting of 2 women and 3 men can be formed? What if 2 of the men are feuding and refuse to serve on the committee together?
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