1. For the market share model in Problem 1 of Chapter 8, suppose that the estimate of...
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1. For the market share model in Problem 1 of Chapter 8, suppose that the estimate of the percentage of new purchasers who will ultimately try the brand is uncertain and assumed to be normally distributed with a mean of 35% and a standard deviation of 4%. Use the NORM.INV function and a one-way data table to conduct a Monte Carlo simulation to find the distribution of the long-run market share.
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Business Analytics Methods Models And Decisions
ISBN: 9780132950619
1st Edition
Authors: James R. Evans
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