$47$

MC Qu$.14-65$ You are reviewing a simulation model...

You are reviewing a simulation model and find that the analyst who prepared the model used the formula $=$ NORM.INYRAND$(),50,3)$ to generate the cost of a product. Which of the following assumptions did the analyst make about the product cost?

$10$

points

The minimum cost is $50.$

II$.$ The average $($mean$)$ cost is $50.$

$00$:$45$:$35$

III. The cost is uniformly distributed.