Suppose we generate the following 20 random daily demands. And also, we fix our daily supply to be 40:

35

25

45

30

35

35

35

45

25

35

30

40

30

35

35

30

30

30

30

40

Calculate the corresponding profit for each simulated daily demand, we will then have 20 simulated profits. Based on these simulated profits, answer the following questions. 

5) What is the average of the simulated profits?   [ Select ]  ["112.75", "172.5", "107.5", "179.25", "33.75"]?

6) What is the 95% confidence interval for the average profit/sample mean profit?   [ Select ]  ["(98.43,127.07)", "(31.3,36.2)", "(153.22,205.28)", "(96.93,261.57)", "(48.73,176.77)", "(160.84,197.66)", "(92.50,133.00)"] ?

Suppose the managers can only supply one of the four levels: 20, 30, 40, and 50 pizzas. Based on the 20 random daily demands shown above, we want to find the optimal supply level among the four possible supply levels that give us the maximum average profit:

7) The method we should use is   [ Select ]  ["two-way data table", "one-way data table", "goal seek analysis"]?

8) The optimal supply level is   [ Select ]  ["30", "20", "40", "50"]?

Answer rating: 100% (QA)

5 What is the average of the simulated profits Select 11275 1725 1075 17925 3375 Answer 11275 The average of the simulated profits can be calculated b... View the full answer