Question: For the profit model developed in Example 12.1, suppose that the demand is uniform with a minimum of 35,000 and maximum of 60,000; fixed costs

For the profit model developed in Example 12.1, suppose that the demand is uniform with a minimum of 35,000 and maximum of 60,000; fixed costs are normal with a mean of $400,000 and a standard deviation of $25,000; and unit costs are triangular with a minimum of $22.00, most likely value of $24.00, and maximum value of $30.00. Simulate 100 trials for production quantities from 35,000 to 60,000 in increments of 5,000 and compute the average and standard deviation for each quantity. What is the best quantity to produce?

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Data Model Unit Cost a 22 b 30 c 24 R 050981961 F c 025 Triangular Random Variate 2515 Quantity Produced Average Profit Standard Deviation 35000 AVERAGEK3K102 xlfnSTDEVSK3K102 40000 AVERAGEL3L102 xlfn... View full answer

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