Question: In Example 11.3, suppose you want to run five simulations, where the probability of passing inspection is varied from 0.6 to 1.0 in increments of
In Example 11.3, suppose you want to run five simulations, where the probability of passing inspection is varied from 0.6 to 1.0 in increments of 0.1. Use the RISKSIMTABLE function appropriately to do this. Comment on the effect of this parameter on the key outputs. In particular, does the probability of passing inspection have a large effect on when production should start? (Note: When this probability is low, it might be necessary to produce more than 25 batches, the maximum built into the model. Check whether this maximum should be increased.)
Step by Step Solution
3.42 Rating (161 Votes )
There are 3 Steps involved in it
To run five simulations with the probability of passing inspection varied from 06 to 10 in increment... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
1497_60476763770fe_838195.xlsx
300 KBs Excel File
