Question: Use Excel Simulation and triangular distribution It is equally likely that annual unit sales for Widgetco's widgets will be low or high. If sales are

 Use Excel Simulation and triangular distribution It is equally likely that

Use Excel Simulation and triangular distribution

It is equally likely that annual unit sales for Widgetco's widgets will be low or high. If sales are low (60,000), the company can sell the product for $10 per unit. If sales are high (100,000), a competitor will enter, and Widgetco can sell the product for only \$8 per unit. The variable cost per unit has a 25% chance of being $6, a 50% chance of being $7.50, and a 25% chance of being $9. Annual fixed costs are $30,000. Use simulation to estimate Widgetco's expected annual profit. Find an interval that has a 95\% chance of containing Widgetco's annual profit

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