Create a Distribution of Random Numbers That Would Result in Average

question 8

Essay

Create a distribution of random numbers that would result in average demand per period for a Monte Carlo simulation that is equivalent to the expected demand per period using the data given by the chart below.

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Definitions:

Tax Liability

The total amount of taxes owed by an individual, corporation, or other entities to the tax authorities after all applicable deductions, credits, and exemptions.

Tax Withholding

The portion of an employee's wages that is not included in their paycheck because it is paid directly to the government as a prepayment of income tax.

Tax Liability

The total amount of tax that individuals or entities are legally obligated to pay to a taxing authority based on their income, property, or other taxable assets.

Married Filing Jointly

A tax filing status for married couples who choose to combine their income and deductions on one tax return.