A Company Is About to Develop and Then Market a New

question 70

Essay

A company is about to develop and then market a new product. It wants to build a simulation model for the entire process, and one key uncertain input is the development time, which is measured in an integer number of months. For each of the scenarios in the questions below, choose an "appropriate" distribution, together with its parameters, and explain your choice.
-Company experts believe the development time will fall into the range of 5 to 9 months. They believe the probabilities of the extremes (5 and 9 months) are both 10%, and the probabilities will vary linearly from those endpoints to a most likely value at 7 months.

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The process of exchanging one country's currency for another country's currency, typically at a rate determined by the foreign exchange market.

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