In Example 12.1, the possible profits vary from negative to positive for each of the 10 possible
Question:
In Example 12.1, the possible profits vary from negative to positive for each of the 10 possible bids examined.
a. For each of these, use @RISK’s RISKTARGET function to find the probability that Miller’s profit is positive. Do you believe these results should have any bearing on Miller’s choice of bid?
b. Use @RISK’s RISKPERCENTILE function to find the 10th percentile for each of these bids. Can you explain why the percentiles have the values you obtain?
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Evans Cherono
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Related Book For 
Practical Management Science, Revised
ISBN: 9781118373439
3rd Edition
Authors: Wayne L Winston, S. Christian Albright
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