Mathematics, 10.05.2021 16:00, lolz55678
A hardware company sells a lot of low-cost, highvolume products. For one such product, it is equally likely that annual unit sales 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 the company will be able to 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.
Required:
a. Use simulation to estimate the company's expected annual profit.
b. Find a 95% interval for the company's annual profit, that it, an interval such that about 95% of the actual profits are inside it.
c. Now suppose that annual unit sales, variable cost, and unit price are equal to their respective expected values--that is, there is no uncertainty. Determine the company's annual profit for this scenario.
d. Can you conclude from the results in parts A and C that the expected profit from a simluation is equal to the profit from the scenario where each input assumes its expected value? Explain.
Answers: 3
Mathematics, 21.06.2019 14:00, rayden62
Design a number line containing five (5) points2.benin, one of the smallest countries in africa, has a total area of 43,475 square miles. the population of the country was recently estimated at 10,160,555. about 3,657,790 people live in rural areas. the country has only about 870 miles of surfaced roads. a. round off the total population to the nearest hundred thousand people. b. round off benin’s area in square miles to the nearest thousand. c. round off the number of miles of surfaced roads to the nearest ten. d. round off the number of people who live in rural areas to the nearest million.
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Mathematics, 21.06.2019 16:30, eliascampos823
Which choice represents the sample space ,s for this event
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Mathematics, 21.06.2019 17:10, tdahna0403
The graph of g(x) is a translation of y = which equation represents g(x)?
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A hardware company sells a lot of low-cost, highvolume products. For one such product, it is equally...
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