Complete the Following Table in Preparation for a Monte Carlo

question 1

Essay

Complete the following table in preparation for a Monte Carlo simulation.
$$\begin{array} { | c | c | c | c | } \hline \text { Demand } & \text { Probability } & \begin{array} { c } \text { Cumulative } \\\text { Probability }\end{array} & \begin{array} { c } \text { Interval of Random } \\\text { Numbers }\end{array} \\\hline 1 & & & 01 - 20 \\\hline 2 & & & 21 - 25 \\\hline 3 & & & 26 - 50 \\\hline 4 & & & 51 - 80 \\\hline 5 & & & 81 - 00 \\\hline\end{array}$$

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Definitions:

Alternative Evaluation

A stage in the consumer decision process where different options are assessed against criteria like features, benefits, price, and quality, to make a purchase decision.

Problem Recognition

The initial stage in the consumer decision-making process where a consumer identifies a need or problem that requires a solution.

Prepurchase Cognition

The thought processes and considerations of consumers before making a buying decision, including research, evaluation of alternatives, and the influence of attitudes and beliefs.

Problem Recognition

The initial step in the buying process, where a consumer identifies a need or a problem that requires a solution.