Use the Data Set Shown Below to Answer the Following

question 57

Multiple Choice

Use the data set shown below to answer the following question(s) . For this Newsvendor model,fit a distribution with Crystal Ball and use the Decision Table tool for analysis.Use 5,000 trials for the simulation.
-For the given Newsvendor model,which of the following is defined as the decision variable?

• A)Demand with lower bound 50 and upper bound 60
• B)Purchase quantity with lower bound 50 and upper bound 60
• C)Surplus quantity with lower bound 50 and upper bound 60
• D)Profit with lower bound 50 and upper bound 60

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Definitions:

Repeating Decimal

A decimal in which one or more digits repeat infinitely.

Decimal Notation

A system of writing numbers that uses a decimal point to separate the whole number part from the fractional part.

Percent Equivalent

A way of expressing a number as a fraction of 100, denoting it with the symbol "%."

Significant Figures

The numbers of digits in a value that contribute to its precision, including all digits except leading and trailing zeros.