The expected profit, based on our simulation model is the average of the profit column.

The expected profit, based on our simulation model is the average of the profit column.

True

False

Question at position $2$

$2$

$10$ points

Question at position $2$

It is possible to ensure that Promus will never lose money, based on our model.

It is possible to ensure that Promus will never lose money, based on our model.

True

False

Question at position $3$

$3$

$10$ points

Question at position $3$

The empirical probability $($based on the data from our simulation model$)$ that Promus will lose money can be achieved by which formula?

The empirical probability $($based on the data from our simulation model$)$ that Promus will lose money can be achieved by which formula?

COUNTIF$($K$30$:K$1029,">0")$

COUNTIF$($K$30$:K$1029,"<0")/$ COUNT$($K$30$:K$1029)$

COUNTIF$($K$30$:K$1029,">0")/$ COUNT$($K$30$:K$1029)$

COUNTIF$($K$30$:K$1029,"<0")$

Question at position $4$

$4$

$10$ points

Question at position $4$

Based on your simulation results, the best order quantity to maximize expected profit is probably in what range?

Based on your simulation results, the best order quantity to maximize expected profit is probably in what range?

$70-90$

$90-110$

$110-130$

Question at position $5$

$5$

$10$ points

Question at position $5$

We can increase the accuracy of our simulation model by increasing the number of trials.

We can increase the accuracy of our simulation model by increasing the number of trials.

True

False