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Explain why they differ. profits. Since the demand is being modeled as a normal random variable, the sample mean profit will always tend to be
Explain why they differ. profits. Since the demand is being modeled as a normal random variable, the sample mean profit will always tend to be higher than the true mean profit. profits. Since the demand is being modeled as a normal random variable, the sample mean profit will always tend to be lower than the true mean profit. simulation with these two production quantities. (Use at least 1,000 trials. Round your answers ta the nearest integer.) What is the mean profit (in dollars) associated with 50,000 units? 5 What is the mean profit (in dollars) associated with 70,000 units? 5 Explain why they differ. profits. Since the demand is being modeled as a normal random variable, the sample mean profit will always tend to be higher than the true mean profit. profits. Since the demand is being modeled as a normal random variable, the sample mean profit will always tend to be lower than the true mean profit. simulation with these two production quantities. (Use at least 1,000 trials. Round your answers ta the nearest integer.) What is the mean profit (in dollars) associated with 50,000 units? 5 What is the mean profit (in dollars) associated with 70,000 units? 5
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