In Example 11.3, suppose you want to run five simulations, where the probability of passing inspection is
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In Example 11.3, suppose you want to run five simulations, where the probability of passing inspection is varied from 0.6 to 1.0 in increments of 0.1. Use the RISKSIMTABLE function appropriately to do this.
Comment on the effect of this parameter on the key outputs. In particular, does the probability of passing inspection have a large effect on when production should start? (Note: When this probability is low, it might be necessary to produce more than 25 batches, the maximum built into the model. Check whether this maximum should be increased.)
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Practical Management Science
ISBN: 9781111531317
4th Edition
Authors: Wayne L. Winston, S. Christian Albright
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