The manager of Flower shop promises its customers delivery within four hours on all flower orders. All flowers are purchased on the previous day and…
BBS Business Statistics · 2080 · Solved Question with Answer
The manager of Flower shop promises its customers delivery within four hours on all flower orders. All flowers are purchased on the previous day and delivered to parker by 8.0 AM in the next morning. The daily demand for roses is as follows:
| Dozens of roses | 70 | 80 | 90 | 100 |
| Probability | 0.1 | 0.2 | 0.4 | 0.3 |
The manager purchase roses for Rs. 10 per dozen and sells them for Rs. 30. All unsold roses are donated to a local hospital. Construct the pay-off table. Also, find : EMV, EPPI and EVPI.