Using the historical snowfall event data, along with the service costs, please evaluate the two service options using Monte Carlo Simulation. Please note that there are a few methods for building the discrete distribution from which to sample. Using the results from the simulation, make a recommendation on which service to contract. How often would the recommended service cost less than the alternative? What is the range of cost (worst case and best case) for the two services? How might our assumptions impact the results of the model? What additional factors should be considered?

Answer rating: 100% (QA)

A D G H N Rand1 C Rand2 Net Profit 0150457 22 0617205 22 5 04... View the full answer