Question: Do a simulation with the Probability table below Demand per month Probability 0 0.04 1 0.08 2 0.28 3 0.40 4 0.16 5 0.02 6

Do a simulation with the Probability table below

Demand per month Probability
0 0.04
1 0.08
2 0.28
3 0.40
4 0.16
5 0.02
6 0.02

You run 1,000 values for a simulation and you got the following results

Demand per month Number of Demand
0 43
1 83
2 277
3 380
4 177
5 18
6 22

Questions: (Show All Process) 1. Calculate the Real Expected Value & Standard Deviation of the demand per month. 2. Calculate the Expected Value & Standard Deviation of the demand per month for your 1,000 values simulation. 3. Determine the % error from the Real Demand and your Simulated Demand

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

It was required for you to do a simulation with the Probability table below. Demand per month Probability 0 0.02 1 0.02 2 0.40 3 0.26 4 0.16 5 0.12 6 0.02 Run 1000 values for a simulation in an Excel...

Q:

it was required for you to do a simulation with the Probability table below. Demand per month Probability 0 0.02 1 0.02 2 0.40 3 0.26 4 0.16 5 0.12 6 0.02 Run 1000 values for a simulation in an Excel...

Q:

Name: DATA Set: Indicate one: [Apartments Directions: Fill in the answer to the questions posed below. Attach the specied printouts Mate indicated and upload the project in Canvas on or before the...

Q:

Project on Monte Carlo simulation Details attached, must use excel. CP Probability Slow Day Busy Day 0 0.05 33 57 0.1 37 63 0.15 40 68 0.2 43 73 0.2 47 77 0.15 50 82 0.1 53 87 0.05 57 93 Sunday...

Q:

Consider Figure 10.10 for Simkins Hardware Store. Column J in the spreadsheet indicates a value of 1 if an order is placed and a value of 0 if an order is not placed. Modify the spreadsheet to make...

Q:

1. Calculate the cost of each capital component, after-tax cost of debt, cost of preferred, and cost of equity with the DCF method and CAPM method. 2. What do you estimate the company?s WACC? Please...

Q:

DSCI 2710 PRACTICE EXAM 2-A 1. One of the following statements is false and the other four are true. Identify the false statement. a. For two events, A and B, P(A and B) is equal to P(A)AP(B)...

Q:

Appendix A APPENDIX A Statistical Tables 860 Table 1 Random Numbers 860 Table 2 Standard Normal Probabilities (Cumulative z Curve Areas) 862 Table 3 t Critical Values 864 Table 4 Tail Areas for t...

Q:

Appendix A APPENDIX A Statistical Tables 860 Table 1 Random Numbers 860 Table 2 Standard Normal Probabilities (Cumulative z Curve Areas) 862 Table 3 t Critical Values 864 Table 4 Tail Areas for t...

Q:

Consider a binomial distribution with 10 trials. Look at Table 2 in the Appendix showing binomial probabilities for various values of p, the probability of success on a single trial. (a) For what...

Q:

One of the major measures of the quality of service provided by an organization is the speed with which the organization responds to customer complaints. A large family-held department store selling...

Q:

What is entrepreneurial alertness and why is it important to entrepreneurs?

Q:

The largest liability on the life insurance company's balance sheet is Multiple choice question. separate account business. net policy reserves. deposit - type contracts. policy claims.

Q:

When older adults have difficulty with transportation and communication, or may be reluctant to request needed assistance to which they are entitled, they may be in need of: Group of answer choices...