# Question: Consider the probability distribution of the weekly demand for copier

Consider the probability distribution of the weekly demand for copier paper (in hundreds of reams) used in a corporation’s duplicating center, as shown in the file S04_58.xlsx.

a. Use simulation to generate 500 values of this random variable.

b. Find the mean and standard deviation of the simulated values.

c. Use your simulated values to estimate the probability that weekly copier paper demand is within one standard deviation of the mean. Why is this only an estimate, not an exact value?

a. Use simulation to generate 500 values of this random variable.

b. Find the mean and standard deviation of the simulated values.

c. Use your simulated values to estimate the probability that weekly copier paper demand is within one standard deviation of the mean. Why is this only an estimate, not an exact value?

**View Solution:**## Answer to relevant Questions

The probability distribution of the weekly demand for copier paper (in hundreds of reams) used in the duplicating center of a corporation is provided in the file S04_58.xlsx. Assuming that it costs the duplicating center $5 ...Assume that there are four equally likely states of the economy: boom, low growth, recession, and depression. Also, assume that the percentage annual return you obtain when you invest a dollar in gold or the stock market is ...Equation (4.10) for covariance indicates exactly what covariance is: the weighted average of products of deviations from the means, weighted by the joint probabilities. However, the computing formula for covariance, Equation ...You are ordering milk for Mr. D’s supermarket, and you are determined to please. Milk is delivered once a week (at midnight Sunday). The mean and standard deviation of the number of gallons of milk demanded each day are ...A machine used to regulate the amount of a certain chemical dispensed in the production of a particular type of cough syrup can be set so that it discharges an average of µ milliliters (ml) of the chemical in each bottle of ...Post your question