Question
Estimates of the financial information for a new product show the following information: Units Sold Probability Fixed cost $8,000 600 .35 Variable cost $6 /
- Estimates of the financial information for a new product show the following information:
| Units Sold | Probability | Fixed cost | $8,000 |
| 600 | .35 | Variable cost | $6 / unit |
| 800 | .45 | Revenue | $22 / unit |
| 1000 | .20 |
|
|
Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial? DO THE ENTIRE EXERCISE IN MS EXCEL.
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International Financial Reporting
Authors: Alan Melville
7th Edition
1292293128, 9781292293127
