Estimates of the financial information for a new product show the following information: $$\begin{array} { c c l l }
\text { Units Sold } & \text { Probability } & \text { Fixed cost } & \$ 8,000 \
600 & .35 & \text { Variable cost } & \$ 6 / \text { unit } \
800 & .45 & \text { Revenue } & \$ 22 / \text { unit }
\end{array}$$ Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial?

Question

Estimates of the financial information for a new product show the following information: $$\begin{array} { c c l l } 
\text { Units Sold } & \text { Probability } & \text { Fixed cost } & \$ 8,000 \
600 & .35 & \text { Variable cost } & \$ 6 / \text { unit } \
800 & .45 & \text { Revenue } & \$ 22 / \text { unit }
\end{array}$$ Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial?

Quizplus · Accepted Answer

The Answer of Estimates of the financial information for a new product show the following information: $$\begin{array} { c c l l } 
\text { Units Sold } & \text { Probability } & \text { Fixed cost } & \$ 8,000 \
600 & .35 & \text { Variable cost } & \$ 6 / \text { unit } \
800 & .45 & \text { Revenue } & \$ 22 / \text { unit }
\end{array}$$ Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial?

Estimates of the Financial Information for a New Product Show