Question
Don't copy and use bot I will vote the answer if copy or bot use then downvote for sure. I need typed answer. Suppose that
Don't copy and use bot I will vote the answer if copy or bot use then downvote for sure. I need typed answer.
Suppose that a small candy store makes Valentine's Day gift boxes that cost
$10.00
and sell for
$15.00.
In the past, at least
40
boxes have been sold by Valentine's Day, but the actual amount is uncertain, and the owner has often run short or made too many. After the holiday, any unsold boxes are discounted 50% and are eventually sold. Set up and run a Monte Carlo simulation assuming that demand is triangular with minimum
value=40,
maximum
value=50,
and most likely
value=47.
Find the distribution of profit for order quantities between
40
and
50
to identify the best order quantity. Use 20 simulation trials.
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