Article name: Modeling

Q.2 Complete the following simulation table for purchase of 60 newspaper by computing revenue from sales ,loss profit from excess demand,salvage from sale of scrap and daily profit Cost data Unit cost 0.40 Unit price 0.60 Unit lost 0.20 Unit refund 0.05 Purchase 60 Day Random Digits for Type of Newsday Type of Newsday Random Digits for Demand Demand Revenue from Sales Lost Profit from Excess Demand Salvage from Sale of Scrap Daily Profit 1 0.94 Poor 0.90 70 2 0.51 Fair 0.35 60 3 0.46 Fair 0.84 70 4 0.78 Fair 0.65 60 5 0.24 Good 0.84 90 6 0.47 Fair 0.66 60 7 0.40 Fair 0.89 80 8 0.89 Poor 0.52 50 9 0.96 Poor 0.93 70 10 0.58 Fair 0.92 80 Total AvgProfit MinProfit MaxProfit