Question: please provide step by step excel instructions!! thank you The revenue of a new product is $56 per unit. The production cost is given by
please provide step by step excel instructions!! thank you
The revenue of a new product is $56 per unit. The production cost is given by a discrete distribution that 60% the cost is about $20 per unit while 40% the cost is $35 per unit. The demand is normally distributed with mean 12000 units and standard deviation is 3500 . Given 1000 simulation, find average profit of the firm. Submit the excel file
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
