I need to know how to get TRIAL 1, fixed cost, unit variable cost, demand, and profit. ALL FOR TRIAL 1.. Thank you!!!
New Car Input Data All the $ amounts are in $thousands 5 Unit Selling Price $32 Unit Variable Cost $850,000 Lower Limit Upper Limit Fixed Cost (Uniform Distribution) 8 Lower bound $600,000 9 Upper bound $1,100,000 10 11 Demand (Normal Distribution) 12 Mean 120,000 13 Standard Dev 30,000 14 15 16 Probability 0.151 0.35 0.30 0.20 Cost per Unit $17 $19 $20 $22 17 18 (Selling price - Unit VC) Dmd - FC Simulation Trials (1) (2) (3) (5) (8) Trial Fixed Cost Unit Variable Cost Demand Profit WN (4) Random Number 0.611 0.443 0.970 0.253 0.191 0.495 0.696 0.441 0.968 0.140 0.569 0.509 0.580 0.091 0.229 Random Number 0.957 0.040 0.757 0.807 0.798 0.854 0.697 0.796 0.951 0.936 0.245 0.976 0.785 0.568 0.855 (6) Random Number 0.652 0.331 0.154 0.883 0.600 0.192 0.373 0.909 0.461 0.175 0.075 0.985 0.777 0.421 0.936 00 O 10 996 997 29 30 1016 1017 1018 1019 1020 1021 1022 1023 1024 998 999 1000 #DIV/0! #DIV/0! #DIV/0! #DIV/0! GM is trying to decide whether to introduce a new car model. The selling price for the car will be $32,000. The fixed cost of developing the car is assumed to be uniformly distributed between $600 million and $1.1 billion. The demand for the car is described by a normal distribution with a mean of 120,000 units and a standard deviation of 30,000. The unit variable cost for the car is distributed as shown below. Cost per Unit $17,000 $19,000 $20,000 $22,000 Probability 0.15 0.35 0.30 0.20 (a) Simulate the profit with 1000 trials. Express all the $ amounts including profit in $thousands. (b) What are the mean and standard deviation of the profit from the simulation? (c) GM is willing to introduce the car if there is at least 95% probability of making a profit AND at least 85% probability of making profit of at least $100 million. Compute these two probabilities and make a recommendation. New Car Input Data All the $ amounts are in $thousands 5 Unit Selling Price $32 Unit Variable Cost $850,000 Lower Limit Upper Limit Fixed Cost (Uniform Distribution) 8 Lower bound $600,000 9 Upper bound $1,100,000 10 11 Demand (Normal Distribution) 12 Mean 120,000 13 Standard Dev 30,000 14 15 16 Probability 0.151 0.35 0.30 0.20 Cost per Unit $17 $19 $20 $22 17 18 (Selling price - Unit VC) Dmd - FC Simulation Trials (1) (2) (3) (5) (8) Trial Fixed Cost Unit Variable Cost Demand Profit WN (4) Random Number 0.611 0.443 0.970 0.253 0.191 0.495 0.696 0.441 0.968 0.140 0.569 0.509 0.580 0.091 0.229 Random Number 0.957 0.040 0.757 0.807 0.798 0.854 0.697 0.796 0.951 0.936 0.245 0.976 0.785 0.568 0.855 (6) Random Number 0.652 0.331 0.154 0.883 0.600 0.192 0.373 0.909 0.461 0.175 0.075 0.985 0.777 0.421 0.936 00 O 10 996 997 29 30 1016 1017 1018 1019 1020 1021 1022 1023 1024 998 999 1000 #DIV/0! #DIV/0! #DIV/0! #DIV/0! GM is trying to decide whether to introduce a new car model. The selling price for the car will be $32,000. The fixed cost of developing the car is assumed to be uniformly distributed between $600 million and $1.1 billion. The demand for the car is described by a normal distribution with a mean of 120,000 units and a standard deviation of 30,000. The unit variable cost for the car is distributed as shown below. Cost per Unit $17,000 $19,000 $20,000 $22,000 Probability 0.15 0.35 0.30 0.20 (a) Simulate the profit with 1000 trials. Express all the $ amounts including profit in $thousands. (b) What are the mean and standard deviation of the profit from the simulation? (c) GM is willing to introduce the car if there is at least 95% probability of making a profit AND at least 85% probability of making profit of at least $100 million. Compute these two probabilities and make a recommendation
