(All answers generated on the Analytic Solver Platform using 10,000 trials and r
ID: 3236450 • Letter: #
Question
(All answers generated on the Analytic Solver Platform using 10,000 trials and random seed 1994.)
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:
1.) Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability that the profit per unit will be less than $5. Round your answer to the nearest percentage.
P.S. the answer should be a probability and in percentage. I've tried 0.09% and didn't work.
ProcurementCost ($)
Probability
Labor Cost ($)
Probability Transportation
Cost ($)
Probability 10 0.25 20 0.10 3 0.75 11 0.45 22 0.25 5 0.25 12 0.30 24 0.35 25 0.30
Explanation / Answer
I have taken a random sample of 200. The simulation table is drawn completely random and feasibility.
So the probability = total negative values/ Total values = 13/200 = 6.5 %
so, project may not be sustainable if the profit per unit is less than $5
Random PC LC TC Total Cost Total Profit Feasible 0.894931 12 25 5 42 3 -2 0.256152 12 25 5 42 3 -2 0.959205 12 25 5 42 3 -2 0.603928 12 25 5 42 3 -2 0.683978 12 24 5 41 4 -1 0.30538 11 25 5 41 4 -1 0.492307 12 24 5 41 4 -1 0.494835 11 25 5 41 4 -1 0.03224 11 25 5 41 4 -1 0.201619 11 25 5 41 4 -1 0.581771 12 24 5 41 4 -1 0.401967 12 24 5 41 4 -1 0.773706 12 24 5 41 4 -1 0.080255 12 25 3 40 5 0 0.529116 10 25 5 40 5 0 0.443654 12 25 3 40 5 0 0.970252 12 25 3 40 5 0 0.766906 11 24 5 40 5 0 0.574091 12 25 3 40 5 0 0.499658 11 24 5 40 5 0 0.208397 11 24 5 40 5 0 0.752801 12 25 3 40 5 0 0.705615 12 25 3 40 5 0 0.31189 11 24 5 40 5 0 0.541649 12 25 3 40 5 0 0.536544 11 24 5 40 5 0 0.696792 12 25 3 40 5 0 0.41654 12 25 3 40 5 0 0.531983 12 25 3 40 5 0 0.004394 12 25 3 40 5 0 0.952882 12 25 3 40 5 0 0.879862 12 25 3 40 5 0 0.827686 12 25 3 40 5 0 0.765047 10 25 5 40 5 0 0.300354 11 24 5 40 5 0 0.571696 10 25 5 40 5 0 0.941973 11 24 5 40 5 0 0.747393 12 25 3 40 5 0 0.003103 11 24 5 40 5 0 0.171195 11 24 5 40 5 0 0.592133 12 25 3 40 5 0 0.351809 11 24 5 40 5 0 0.872061 12 25 3 40 5 0 0.291471 12 25 3 40 5 0 0.953813 10 25 5 40 5 0 0.718625 10 24 5 39 6 1 0.140306 12 24 3 39 6 1 0.066872 12 24 3 39 6 1 0.51319 11 25 3 39 6 1 0.147508 12 24 3 39 6 1 0.960996 11 25 3 39 6 1 0.881375 12 24 3 39 6 1 0.807728 12 24 3 39 6 1 0.794752 10 24 5 39 6 1 0.299232 12 22 5 39 6 1 0.101564 12 24 3 39 6 1 0.762819 12 22 5 39 6 1 0.726952 12 24 3 39 6 1 0.395121 12 24 3 39 6 1 0.906927 11 25 3 39 6 1 0.319278 11 25 3 39 6 1 0.893388 11 25 3 39 6 1 0.424751 11 25 3 39 6 1 0.386033 12 24 3 39 6 1 0.023915 11 25 3 39 6 1 0.368138 11 25 3 39 6 1 0.148096 12 24 3 39 6 1 0.849677 10 24 5 39 6 1 0.853865 12 24 3 39 6 1 0.161776 11 25 3 39 6 1 0.095692 11 25 3 39 6 1 0.412453 11 25 3 39 6 1 0.748609 12 24 3 39 6 1 0.552619 10 24 5 39 6 1 0.161038 10 24 5 39 6 1 0.48998 11 25 3 39 6 1 0.333892 11 25 3 39 6 1 0.267429 12 22 5 39 6 1 0.181681 11 25 3 39 6 1 0.734255 10 24 5 39 6 1 0.703025 11 25 3 39 6 1 0.928256 10 25 3 38 7 2 0.106722 11 24 3 38 7 2 0.729528 10 25 3 38 7 2 0.535274 11 24 3 38 7 2 0.55387 10 25 3 38 7 2 0.712847 11 22 5 38 7 2 0.107243 11 24 3 38 7 2 0.948734 11 22 5 38 7 2 0.013741 11 24 3 38 7 2 0.219497 11 24 3 38 7 2 0.930625 11 24 3 38 7 2 0.334499 11 24 3 38 7 2 0.285418 10 25 3 38 7 2 0.514198 11 24 3 38 7 2 0.520897 10 25 3 38 7 2 0.971351 11 24 3 38 7 2 0.480103 11 24 3 38 7 2 0.060154 11 22 5 38 7 2 0.567223 10 25 3 38 7 2 0.659846 11 22 5 38 7 2 0.396454 10 25 3 38 7 2 0.391281 11 24 3 38 7 2 0.776041 11 24 3 38 7 2 0.982602 11 24 3 38 7 2 0.935316 10 25 3 38 7 2 0.943702 11 24 3 38 7 2 0.498419 10 25 3 38 7 2 0.091575 11 24 3 38 7 2 0.376214 11 24 3 38 7 2 0.365085 11 22 5 38 7 2 0.35081 10 25 3 38 7 2 0.211456 10 25 3 38 7 2 0.360828 10 25 3 38 7 2 0.995272 11 24 3 38 7 2 0.646537 11 24 3 38 7 2 0.879408 11 24 3 38 7 2 0.543854 11 24 3 38 7 2 0.843548 11 22 5 38 7 2 0.515344 11 24 3 38 7 2 0.192053 11 24 3 38 7 2 0.168608 10 25 3 38 7 2 0.897379 11 24 3 38 7 2 0.550959 11 24 3 38 7 2 0.892128 11 24 3 38 7 2 0.307811 10 25 3 38 7 2 0.104254 10 25 3 38 7 2 0.890408 10 22 5 37 8 3 0.754564 10 24 3 37 8 3 0.573457 12 22 3 37 8 3 0.061124 12 22 3 37 8 3 0.827377 10 24 3 37 8 3 0.785841 12 22 3 37 8 3 0.080165 10 22 5 37 8 3 0.466757 10 24 3 37 8 3 0.662188 10 24 3 37 8 3 0.906749 12 22 3 37 8 3 0.491922 10 24 3 37 8 3 0.052176 12 22 3 37 8 3 0.094614 10 24 3 37 8 3 0.354161 12 22 3 37 8 3 0.588408 10 24 3 37 8 3 0.964488 10 24 3 37 8 3 0.272798 10 24 3 37 8 3 0.747466 12 22 3 37 8 3 0.023101 10 22 5 37 8 3 0.396543 10 24 3 37 8 3 0.939916 12 20 5 37 8 3 0.728209 12 22 3 37 8 3 0.34519 10 24 3 37 8 3 0.018103 12 22 3 37 8 3 0.974747 12 22 3 37 8 3 0.399733 12 22 3 37 8 3 0.670824 12 22 3 37 8 3 0.104664 10 24 3 37 8 3 0.004163 11 22 3 36 9 4 0.796969 11 22 3 36 9 4 0.419924 11 22 3 36 9 4 0.905427 11 22 3 36 9 4 0.22242 11 22 3 36 9 4 0.813811 11 22 3 36 9 4 0.061076 11 22 3 36 9 4 0.830247 11 22 3 36 9 4 0.954068 11 22 3 36 9 4 0.413568 11 22 3 36 9 4 0.49229 11 20 5 36 9 4 0.99729 11 22 3 36 9 4 0.458283 11 22 3 36 9 4 0.341175 11 22 3 36 9 4 0.222689 11 22 3 36 9 4 0.693366 11 22 3 36 9 4 0.879812 11 22 3 36 9 4 0.114724 11 22 3 36 9 4 0.755957 11 20 5 36 9 4 0.943746 11 22 3 36 9 4 0.945712 11 22 3 36 9 4 0.91331 12 20 3 35 10 5 0.493899 10 22 3 35 10 5 0.475167 12 20 3 35 10 5 0.723391 10 22 3 35 10 5 0.766347 12 20 3 35 10 5 0.735787 10 22 3 35 10 5 0.032927 10 22 3 35 10 5 0.219328 12 20 3 35 10 5 0.13182 10 22 3 35 10 5 0.487443 10 22 3 35 10 5 0.316336 10 20 5 35 10 5 0.749135 12 20 3 35 10 5 0.783269 10 20 5 35 10 5 0.690833 10 22 3 35 10 5 0.132882 11 20 3 34 11 6 0.594561 11 20 3 34 11 6 0.652462 11 20 3 34 11 6 0.3487 11 20 3 34 11 6 0.103933 11 20 3 34 11 6 0.006339 11 20 3 34 11 6 0.550075 11 20 3 34 11 6 0.955781 11 20 3 34 11 6 0.102361 11 20 3 34 11 6 0.048652 10 20 3 33 12 7Related Questions
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