In Example 11.3, suppose you want to run five simulations, where the probability of passing inspection is
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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.)
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To run five simulations with the probability of passing inspection varied from 06 to 10 in increment...View the full answer
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Related Book For 
Practical Management Science
ISBN: 978-1305250901
5th edition
Authors: Wayne L. Winston, Christian Albright
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