Can you please answer Problem 2 and provide an explanation (Subject: Stochastic Operations Research)

Please submit your work via Blackboard: 1. A single pdf file includes the following: a. Main results and discussions b. For part (a) of problems 1 4, please list all the simulation output using CFRN 2. An excel file contains your simulations Definition: Chen's Favorite Random Numbers (CFRN) : {0.025,0.075,0.125,0.175,, 0.875,0.925,0.975}. There are 20 numbers in this set. Obviously, these are not good random numbers. However, we will use these numbers several times in our assignments. For your convenience, there is an Excel file containing CFRN available at Blackboard. 2. I have 10 pounds of a product in stock. The demand D for the item is a continuous random variable with the following density function: f(d)={0.1,0,if5d15otherwise We want to apply simulation to answer the following five questions: (i) What is the probability the stock can meet the demand? (ii) What is the expected weight of items sold? (iii) What is the variance of the weight of the items sold? Like Problem 1, please answer the above 5 sub-questions using CFRN and rand(): (a) (10 points) Use CFRN to generate 20 random numbers for D and then answer the above 5 sub-questions (b) (5 points) Repeat part (a) using the function rand() in Excel, instead of using CFRN. And increase the number of random numbers from 20 to 200 . Please submit your work via Blackboard: 1. A single pdf file includes the following: a. Main results and discussions b. For part (a) of problems 1 4, please list all the simulation output using CFRN 2. An excel file contains your simulations Definition: Chen's Favorite Random Numbers (CFRN) : {0.025,0.075,0.125,0.175,, 0.875,0.925,0.975}. There are 20 numbers in this set. Obviously, these are not good random numbers. However, we will use these numbers several times in our assignments. For your convenience, there is an Excel file containing CFRN available at Blackboard. 2. I have 10 pounds of a product in stock. The demand D for the item is a continuous random variable with the following density function: f(d)={0.1,0,if5d15otherwise We want to apply simulation to answer the following five questions: (i) What is the probability the stock can meet the demand? (ii) What is the expected weight of items sold? (iii) What is the variance of the weight of the items sold? Like Problem 1, please answer the above 5 sub-questions using CFRN and rand(): (a) (10 points) Use CFRN to generate 20 random numbers for D and then answer the above 5 sub-questions (b) (5 points) Repeat part (a) using the function rand() in Excel, instead of using CFRN. And increase the number of random numbers from 20 to 200