In Problem 12 of the previous section, suppose that the demand for cars is normally distributed with mean 100 and standard deviation 15. Use @RISK to determine the “best” order quantity—in this case, the one with the largest mean profit. Using the statistics and/or graphs from @RISK, discuss whether this order quantity would be considered best by the car dealer.
Answer to relevant QuestionsUse @RISK to analyze the sweatshirt situation in Problem 14 of the previous section. Do this for the discrete distributions given in the problem. Then do it for normal distributions. For the normal case, assume that the ...Repeat Problem 23, but now make the second input variable triangularly distributed with parameters 50, 100, and 500. This time, verify not only that the correlation between the two inputs is approximately 0.7, but also that ...A hardware company sells a lot of low-cost, high volume products. For one such product, it is equally likely that annual unit sales will be low or high. If sales are low (60,000), the company can sell the product for $10 per ...In statistics we often use observed data to test a hypothesis about a population or populations. The basic method uses the observed data to calculate a test statistic (a single number), as discussed in Chapter 9. If the ...Rerun the new car simulation from Example 16.4, but now use the RISKSIMTABLE function appropriately to simulate discount rates of 5%, 7.5%, 10%, 12.5%, and 15%. Comment on how the outputs change as the discount rate ...
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