Question: Continuing the previous problem, assume, as in Problem 11, that the damage amount is normally distributed with mean $3000 and standard deviation $750. Run @RISK

Continuing the previous problem, assume, as in Problem 11, that the damage amount is normally distributed with mean $3000 and standard deviation

$750. Run @RISK with 5000 iterations to simulate the amount you pay for damage. Compare your results with those in the previous problem. Does it appear to matter whether you assume a triangular distribution or a normal distribution for damage amounts? Why isn’t this a totally fair comparison? (Hint: Use @RISK’s Define Distributions tool to find the standard deviation for the triangular distribution.)

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