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Question
Suppose the following random numbers (1, 34, 22, 78, 56, 98, 00, 82) were selected during a Monte Carlo simulation that was based on the chart below. What was the average demand per period for the simulation? What is the expected demand?
| Demand | Probability | Cumulative Probability | Interval of Random Numbers |
| 0 | .1 | ||
| 1 | .15 | ||
| 2 | .4 | ||
| 3 | .15 | ||
| 4 | .2 |
Answer
This answer is hidden. It contains 286 characters.
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