Business, 28.11.2019 00:31, mladyrj5338
The management of madeira manufacturing company is considering the introduction of a new product. the fixed cost to begin the production of the product is $39,000. the variable cost for the product is uniformly distributed between $20 and $29 per unit. the product will sell for $59 per unit. demand for the product is best described by a normal probability distribution with a mean of 1,600 units and a standard deviation of 500 units. develop an excel worksheet simulation for this problem. use 500 simulation trials to answer the following questions:
a. what is the mean profit for the simulation? round your answer to the nearest dollar.
mean profit = $
b. what is the probability that the project will result in a loss? recalculate the numerical value of probability in percent and then round your answer to the nearest whole number.
probability of loss = %
Answers: 2
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The management of madeira manufacturing company is considering the introduction of a new product. th...
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