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A software company is launching a new mobile app. The company estimates that the app will have a 20% market penetration in the first

 

A software company is launching a new mobile app. The company estimates that the app will have a 20% market penetration in the first year, with a potential revenue of $1 million. However, market uncertainties exist, and the company wants to assess the range of potential revenues using a Monte Carlo simulation. Assume a triangular distribution for the market penetration rate, with a minimum of 10%, a mode of 20%, and a maximum of 30%. Perform a Monte Carlo simulation with 10,000 iterations to estimate the range of potential revenues for the new mobile app.

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