Solve using the Monte Carlo method: Throughout the year, Mr. Andrs is dedicated to selling liters of

Solve using the Monte Carlo method:

Throughout the year, Mr. Andrés is dedicated to selling liters of goat milk in a locality. Every morning he buys a fixed amount of liters. Said liter has a cost of B/3.00, for subsequent sale at B/5.00 per liter. The liters that are not sold on the same day are sold to a cheese factory at a salvage value of B/2.00. Every morning the man buys 20 liters.

How many liters should the man buy daily to obtain a good average profit?

The daily demand for liters is given by the following probability table:

Probability
Demand (Unit)	P(x)
3	0.05
5	0.1
8	0.15
10	0.07
13	0.21
18	0.18
20	0.24

Answer rating: 100% (QA)

To solve this problem using the Monte Carlo method we will simulate the daily demand for liters usin... View the full answer