Question: 5. (SIMILATION PROBLEM) Owning a small bakery, BA202 students wish to determine a policy for managing their red velvet cake inventory. They want to simulate

5. (SIMILATION PROBLEM) Owning a small bakery,

5. (SIMILATION PROBLEM) Owning a small bakery, BA202 students wish to determine a policy for managing their red velvet cake inventory. They want to simulate daily demand for a number of days. Examining previous sales data BA202 students come up with the following demand and frequency distributions. (20 pts) a. Please find the probability distributions and cumulative probabilities and determine interval of random numbers. Daily Demand Frequency (Days) Probability Cumulative Probability Interval of Random Numbers 0 20 1 40 2 80 3 100 4 80 5 60 6 20 What is the probability that the daily demand is greater than 1 and less than or equal to 5? What is the probability that daily demand is less than 4? b. One of BA202 students generate random numbers which are given below, run 1 simulation trial by using the generated numbers below and find simulated daily demand for ten days for this trial. Find the average daily demand for the trial and compare it with the expected daily demand of previous sales. 99 29 27 75 89 78 68 64 62 30

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