Use the table below to answer the following question(s) .
Below is the spreadsheet for an economic order quantity model.
Assume that the distribution of demand is normal with a mean of 20,000 and standard deviation of 2,000.
-What is the value of standard deviation obtained from the simulation results?
Definitions:
Market Situations
Various conditions under which a market operates, influenced by factors like competition, demand, and supply.
Output
The quantity of goods or services produced by a firm, industry, or economy within a given period.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded, usually depicting a downward slope, indicating the inverse relationship between price and demand.
Supply Curve
A graphical representation used in economics to show the relationship between the price of a good or service and the quantity of it that producers are willing to supply.
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