Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello tutor, using excel risk' software simulation, can you show a step to step solution on how to solve the question below. Please show your

Hello tutor, using excel "risk' software simulation, can you show a step to step solution on how to solve the question below. Please show your answers in Excel format with formulas.

The Donaldson Game Co. orders boxes of collectable game cards for $60 per box. They sell boxes of cards for $100 per box. A new series of cards is expected in February and they plan to place boxes of the current cards on sale for $50 per box in January. Any unsold boxes after January are donated to a game convention. A review of historic sales of the cards yielded a normal distribution with a mean of 200 boxes and a standard deviation of 30. Sales at the discounted price in January are estimated to be a triangular distribution with a minimum value of 10 boxes, most likely of 15 boxes, and a maximum of 40 boxes. The alternative order you can consider is listed in the following table: Alternatives 150 175 200 225 250 275 Use @Risk to solve with 1000 iterations for 6 alternative orders.

a. The Donaldson Game Co. would like to maximize its mean profit. How many should it order?

b. Show the @RISK Output Results.

c. Show the @RISK Detailed Statistics

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus

Authors: Michael Sullivan

10th Global Edition

1292121772, 1292121777, 978-1292121772

More Books

Students also viewed these Mathematics questions