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Answer the following question using 1 0 0 0 trials of simulation. Consider the spreadsheet for a Newsvendor Model. What decision for purchase quantity results
Answer the following question using trials of simulation.
Consider the spreadsheet for a Newsvendor Model. What decision for purchase quantity results in the highest profit?
A B C D E
Newsvendor Model Historical Candy Sales
Data
Selling price $
Cost $
Discount price $
Demand
Decision Variable
Purchase Quantity
Model
Quantity Sold
Surplus Quantity
Profit
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