What is the probability that organic bananas are more profitable than conventional? Answer in percentage. Mechanize the
Fantastic news! We've Found the answer you've been seeking!
Question:
What is the probability that organic bananas are more profitable than conventional? Answer in percentage.
Transcribed Image Text:
Mechanize the Monte Carlo that Maria Keller put together to assist her decision on her Costa Rican banana plantation, specifics provided below: La Hacienda Musa Conventional Bananas Yield (Tonnes/Hectare) Price (Per tonne) Revenue per hectare. Organic Bananas Yield (Tonnes/Hectare) Price premium Price (Per tonne) Revenue per hectare Cost (per Hectare) Profit per hectare Conventional Organic Difference Organic more profitable (yes = 1) Conventional Organic Hectares 100 10.0 220.0 $2,200-Conventional Yield*Conventional Price 9.2 15.0% $253'=(1+Organic Price Premium) * Conventional Price $2,328 -Organic Yield Organic Price 1,800.0 $400' Conventional Revenue/Hectare-ConventionalCost/Hectare $528'=Organic Revenue/Hectare-Organic Cost/Hectare -$128'-Conventional Profit/Hectare-Organic Profit/Hectare 1'=IF(OrganicProfit/Hectare>Conventional Profit/Hectare,1,0) Hectares planted 0 100 Total Profit: Profit $0 = Conventional Profit/Hectare*Conventional Hectares Planted $52,760¹= Organic Profit/Hectare OrganicHectares Planted $52,760 C Mechanize the Monte Carlo that Maria Keller put together to assist her decision on her Costa Rican banana plantation, specifics provided below: La Hacienda Musa Conventional Bananas Yield (Tonnes/Hectare) Price (Per tonne) Revenue per hectare. Organic Bananas Yield (Tonnes/Hectare) Price premium Price (Per tonne) Revenue per hectare Cost (per Hectare) Profit per hectare Conventional Organic Difference Organic more profitable (yes = 1) Conventional Organic Hectares 100 10.0 220.0 $2,200-Conventional Yield*Conventional Price 9.2 15.0% $253'=(1+Organic Price Premium) * Conventional Price $2,328 -Organic Yield Organic Price 1,800.0 $400' Conventional Revenue/Hectare-ConventionalCost/Hectare $528'=Organic Revenue/Hectare-Organic Cost/Hectare -$128'-Conventional Profit/Hectare-Organic Profit/Hectare 1'=IF(OrganicProfit/Hectare>Conventional Profit/Hectare,1,0) Hectares planted 0 100 Total Profit: Profit $0 = Conventional Profit/Hectare*Conventional Hectares Planted $52,760¹= Organic Profit/Hectare OrganicHectares Planted $52,760 C
Expert Answer:
Answer rating: 100% (QA)
Solution Here is the Monte Carlo simulation to assess the probability that organic bananas are more ... View the full answer
Related Book For
Statistics For Business & Economics
ISBN: 9781305585317
13th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Posted Date:
Students also viewed these general management questions
-
La Hacienda Musa in Costa Rica was a long way from Leuven, Belgium. But for Maria Keller, the transition was as natural as it could be. She had spent 20 years in Leuven studying banana genetics at...
-
The article Baseball: Pitching No-Hitters (Chance [Summer 1994]: 24 30) gives information on the number of hits per team per game for all nine-inning major league games played between 1989 and 1993....
-
A yo-yo moves downward until it reaches the end of its string, where it "sleeps." As it sleeps-that is, spins in place-its angular speed decreases from 35 rad/s to 25 rad/s. During this time it...
-
What did Robert Millikan discover about the electron?
-
What other analytics uses can you envision in sports?
-
The following table contains a partial list of countries, the continents on which they are located, and their respective gross domestic products (GDPs) in U.S. dollars. A list of 125 countries and...
-
Wolverine Corp. (Wolverine) reports its inventory at the lower of cost and NRV. Wolverine has five inventory categories. You are provided with the following cost and NRV information about each...
-
A bond is currently selling in the market for $1,085.96. It has a coupon of 8% and a 15-year maturity. Using annual compounding, what is the yield to maturity on this bond?
-
Glen Pool Club, Inc., has an installment loan outstanding with a current balance of $150.000. The company makes monthly installments of $1,543, which include interest computed at an annual rate of 6...
-
Various deduction rules can be used in logical argument and proof Using Truth Tables, demonstrate that the following deduction rules are valid 1 a b b a ( called modus tollens ) 2 a b a b b ( called...
-
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department s planning budget and flexible budget are based on the following formulas, where...
-
Adam is 65 years old and is reviewing his estate plan because he had a friend of his pass away recently and his estate had to pay a lot of money in taxes. He wants to ensure that if something happens...
-
ABC Corp. reported the following balances on December 31 (1) inventory: 2015 --- P 2,600,000, 2014 --- 2,900,000; (2) accounts payable: 2015 ---750,000, 2014 --- 500,000. ABC paid its suppliers P...
-
Whirly Corporation s contribution format income statement for the most recent month is shown below: Total Per Unit Sales ( 7 , 9 0 0 units ) $ 2 6 0 , 7 0 0 $ 3 3 . 0 0 Variable expenses 1 4 2 , 2 0...
-
The Digby's balance sheet has $ 130, 7 5 0 , 0 0 0 in equity. Further, the company is expecting $ 3 , 500, 0 0 0 in net income next year. Assuming no dividends are paid and no stock is issued, what...
-
Maritime Equipment Company uses normal job-order costing in its only department. The company charges overhead based on direct labor cost. The estimated overhead cost for 2020 was $125,000 and the...
-
Can partitioned join be used for r r.A s? Explain your answer
-
Chicago Midway International Airport and Baltimore/Washington International Thurgood Marshall Airport are the U.S. airports with the worst percentage of delayed flights (Travel+Leisure website, April...
-
Air pollution control specialists in southern California monitor the amount of ozone, carbon dioxide, and nitrogen dioxide in the air on an hourly basis. the hourly time series data exhibit...
-
Shipments of product from manufacturer to the retailer are tracked by the U.S. Census Bureau. The value of shipments for computer and electronic products for three consecutive years are shown in the...
-
John Henry died on May 1, 2018. When does his final 1040 have to be filed?
-
John and Mary Hughes file their income tax return on a calendar year basis. John dies on May 15, 2018. Mary remarries on July 4, 2018. Can Mary file a joint return with John for the taxable year 2018?
-
In 2018, Cabell Mapp passed away in Belle Haven, Virginia. Pursuant to his will, a testamentary trust was established. The trust instrument requires that \(\$ 10,000\) a year be paid to the...
Study smarter with the SolutionInn App