Use the Information Below to Answer the Following Question(s) We Assume That the Production (Demand) Volume Is Normally Distributed
Use the information below to answer the following question(s) . Consider the following spreadsheet for an outsourcing decision model. We assume that the production (demand) volume is normally distributed with a mean of 1,000 and a standard deviation of 100. For the unit cost, select the triangular distribution. It has a minimum value of $150, most likely value of $165, and a maximum value of $190. The number of trials per simulation is equal to 5,000 at a Sim. Random Seed of 1. Run the simulation and answer the following question(s) using the Risk Solver Platform.
-What is the expected loss determined from the simulation results?
A) $(78)
B) $(120)
C) $(60)
D) $(47)
Correct Answer:
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Q13: Which of the following best defines Monte
Q14: Monte Carlo sampling differs from Latin Hypercube
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Q17: Latin Hypercube sampling differs from Monte Carlo
Q18: Which of the following is a parameter
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Q20: Which option in Risk Solver Platform allows
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