Given this distribution Weekly Sales: (cars) 0 1 2 3 4 5 Relative Frequency (Probability) 0.05 0.15 0.2 0.3 0.2 0.1 and the selling price per car = $40,000. a) Using the Monte Carlo Simulation and the set of random numbers, calculate the mean of the weekly car sales for 20 weeks b) Calculate the projected revenue for the week 17?
Given this distribution Weekly Sales: (cars) 0 1 2 3 4 5 Relative Frequency (Probability) 0.05 0.15 0.2 0.3 0.2 0.1 and the selling price per car = $40,000. a) Using the Monte Carlo Simulation and the set of random numbers, calculate the mean of the weekly car sales for 20 weeks b) Calculate the projected revenue for the week 17?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
Problem 61CR
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