Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. the management of brinkley corporation is interest

The management of Brinkley Corporation is interested in using simulation to estimate the profit per...

60.2K

Verified Solution

Question

Statistics

image

The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product The selling price for the product will be 45 per unit Probability distributions for the purchase cost the labor cost and the transportation cost are estimated as follows Procurement Cost 10 11 12 Probability Labor Cost Probability Cost 0 25 0 45 0 3 20 22 24 25 Profit per unit for best case 0 1 0 25 Mean profit per unit 0 35 Transportation 0 3 3 a Compute profit per unit for base case worst case and best case Profit per unit for base case Profit per unit for worst case 5 b Construct a simulation model to estimate the mean profit per unit If required round your answer to the nearest cent Probability 0 75 0 25 c Why is the simulation approach to risk analysis preferable to generating a variety of what if scenarios d Management believes that the project may not be sustainable if the profit per unit is less than 5 Use

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Use the image to answer the question Alarm Clock Set 5 00 a m 5...

Statistics
Q

What are the materials that improved water accessibility? How did it improve water accessibility? (Can you please...

Mechanical Engineering
Q

Taq polymerase is extracted from O a Saccharomyces cerevisiae O b Escherichia coli Oc Thermus...

Biology
Q

92 L x Corigin 9 8 Two charges q 12 C and q 13 C...

Physics
Q

Select the answers that best complete the given statement.The exponential function f with base b...

Basic Math
Q

Let the polynomial be ax bx c and its zeroes be and B

Statistics
Q

6 The information below shown in table form represents sets of regional sales figures in...

Calculus
Q

1 Write out the first 4 terms of the series show that diverges n 2...

Algebra
Q

a. the income statement; the statement of owner's equity b. the balance sheet; the statement...

Accounting
Q

Brisk Inc., a closely held corporation that is not a PSC, has an $110,000 passive...

Accounting
Q

Explain the close relationship between the life-cycle product budgeting and costing. [8 marks]

Accounting
Q

Jeremy Kohn may invest in a 10-year bond that pays a 12 percent coupon semiannually....

Finance