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distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table. (a) Compute profit (in $) per unit
distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table. (a) Compute profit (in \$) per unit for the base-case scenario. $ /unit (b) Compute profit (in \$) per unit for the worst-case scenario. $ /unit (c) Compute profit (in \$) per unit for the best-case scenario. $ /unit (d) Construct a simulation model to estimate the mean profit (in \$) per unit. (Use at least 1,000 trials. Round your answer to two decimal places.) $ (e) Why is the simulation approach to risk analysis preferable to generating a variety of what-if scenarios? Simulation will provide of the profit per unit values which can then be used to find of an unacceptably low profit. answer to three decimal places.)
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