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Suppose That the Demand for Cars Is Normally Distributed with Mean

question 63

Essay

Suppose that the demand for cars is normally distributed with mean of 120 and standard deviation of 20.Use @Risk simulation add-in to determine the "best" order quantity; that is,the one that has the largest expected profit.Using the statistics and/or graphs from @Risk,discuss whether this order quantity would not be considered the "best" by the car dealer.


Definitions:

Solver Button

A feature in spreadsheet software that allows users to find optimal solutions to complex mathematical problems.

Analyze Group

A process or method of breaking down data or issues into smaller components to understand their structure and implications.

Data Tab

A section within software applications where users can access and manipulate data-related functions and settings.

Integer

A whole number that can be positive, negative, or zero.

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