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Any assistsnce with this problem would be great! Thank you! Mean $ 1 2 0 $ 1 8 $ 1 4 0 $ 2 1
Any assistsnce with this problem would be great! Thank you! Mean $ $ $ $ $ $ Monday Tuesday Wednesday Thursday Friday Saturday Sunday $ S $ $ Std Dev. $ $ $ $ An armored truck delivers cash to this bank once a week. The manager of the bank can order any amount of cash she desires for this delivery. Of course, running out of cash in any week is very undesirable as customers of the bank expect to be able to withdraw their deposits on demand. Keeping excessive cash reserves would guard against this happenstance. However, cash is a noninterest earning asset, so there is an opportunity cost for holding excess cash reserves. Determine the distribution of the total demand for cash for a week under these assumptions by conducting a simulation of trials. Summarize your results with a histogram. Also, answer the following questions in the highlighted cells below. Type the value in the highlighted cell not a formula: a What is the average cash demand for a week? b Suppose the bank manager orders enough cash to start each week with a cash balance of $ What is the probability the bank will run out of money at some point during the week? c What amount of money is needed at the start of each week to ensure there is at most a chance of running out of money?
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