Question: answer in full detail explaing every step please Problem 2. The management of Brinkley Corporation is interested in using simulation to estimate the profit per
answer in full detail explaing every step please
Problem 2. The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows: (a) Calculate the expected value of the procurement, labor, and transportation cost, respectively. (b) Use the following random numbers (procurement, labor, and transportation cost, respectively) to calculate a potential value for the unit profit: 0.005,0.26, and 0.87
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