Question: complete the last table according to previous data with correct numbers Example 1: A company estimated the monthly cost and monthly income as in table(1)



complete the last table according to previous data with correct numbers
Example 1: A company estimated the monthly cost and monthly income as in table(1) and table(2). Use Monte Carlo Simulation to advise the company to continue or leave the business. Cumulative Distribution Function If X is a purely discrete random variable, then it attains values x1, x2, ... with probability pi = P(x), and the CDF of X will be discontinuous at the points x and constant in between: CDF = P(X) = {p(x) for 1 =1,2,3, ...n Table (1) Probability Distribution of Cost CDF P(x) Monthly Cost (C) P(X) (10000) 0.10 0.10 21 0.25 0.15 22 0.75 0.50 23 0.90 0.15 24 1.0 0.10 25 From table(1) P(24)=P(21) + P(22) + P(23) + P(24) = 0.1 +0.15 +0.50 +0.15 = 0.90 Table (2) Probability Distribution of Income CDF P(x) Monthly Income (1) P(X) (10000) 0.08 0.08 22 0.20 0.12 23 0.40 0.20 24 0.70 0.30 25 0.87 0.17 26 0.95 0.08 27 1.0 0.05 28 Net Profit = Income - cost = |-C 1 Table (3) Random Number CDF o suStep by Step Solution
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