Question: Calibri 14 AA LE Paste B 1 U-9-10 v A. Undo Clipboard 12 Font Alignment 33 VOX fx A B D E F A shopkeeper

Calibri 14 AA LE Paste B 1 U-9-10 v A. Undo Clipboard 12 Font Alignment 33 VOX fx A B D E F A shopkeeper buys semiprecious stones $250 each, which he sells for for $320 per unit. Assume that demand is random and described by the probability distribution below. Use a simulation model with 100 simulation rounds to find the purchase quantity that maximizes expected profit. Also, show graphically how his expected profit changes with the number of parts he buys. 110 Demand 10 11 Probability 0.05 0.1 12 11 13 12 0.1 14 13 14 15 0.15 0.2 0.15 0.1 16 15 16 17

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