Question
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
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