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chimeric chimeric
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6 years ago
A local computer store is running a sale on the first 99 flat panel monitors sold. There is an equally likely chance of 0-99 units being sold. Each monitor cost $250, and profit is $10 per monitor sold. That is, profit equals -$250 + $10X, where X = the number of monitors sold. The mean amount you would expect to sell is 49.5 units.

(a) Calculate the expected profit.
(b) Simulate the sale of 10 items, using the following double digit random numbers: 47, 77, 98, 11, 02, 18, 31, 20, 32, 90.
(c) Calculate the average profit in (b) above, and compare with the results of (a) above.
Textbook 
Quantitative Analysis for Management

Quantitative Analysis for Management


Edition: 12th
Authors:
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TheBatTheBat
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6 years ago
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chimeric Author
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6 years ago
this is exactly what I needed
Tim0301
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Yesterday
Just got PERFECT on my quiz
Danivalda
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2 hours ago
Brilliant ツ
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