Use @Risk Simulation Add-In to Analyze the Sweatshirt Sales

question 2

Essay

Use @Risk simulation add-in to analyze the sweatshirt sales.Do this for normal distributions,where we assume that the regular demand is normally distributed with mean 10,000 and standard deviation 1500,and that the demand at the reduced price is normally distributed with mean 5,000 and standard deviation 1500.

Understand and apply the concept of trade discounts.

Calculate trade discount rate given list and net prices.

Calculate list price given the amount of trade discount.

Understand the application of trade discounts in various scenarios (e.g., rebates on purchases, payroll reduction).

---

Definitions:

Bystander Effect

A behavioral pattern observed in social psychology where the presence of others reduces the likelihood of a person to assist someone in distress.

Latané and Darley

Social psychologists who researched the bystander effect, demonstrating how the presence of others affects the likelihood of helping behavior.

Bystander Effect

A phenomenon in social psychology where people are less inclined to assist a victim if there are others around.

Pluralistic Compliance

The phenomenon where individuals conform to the perceived behavior or beliefs of a group, even if they might personally disagree, due to the assumption that the group's consensus represents the correct course of action.