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Match the numbers with the correct answers please. Question 2 (1 point) Turn the deterministic model for Leah's calendar profit projections into a Monte Carlo
Match the numbers with the correct answers please.
Question 2 (1 point) Turn the deterministic model for Leah's calendar profit projections into a Monte Carlo simulation by randomizing the Quantity Demanded with a Beta General with Alpha1=2 and Alpha2=18, with the minimum value at 600 and the maximum value at 1400. Match the expected value of profit with the Order Quantities below. (Hint: Use RiskSimTable) Annual Calendar Sales Cost per Calendar $ Retail Price per Calendar $ Refund per Calendar $ 5.95 14.95 1.95 680 Order Quantity Quantity Demanded 600 Leftovers 80=1F (Order Quantity> Quantity Demandec Revenue Sales Refund Total Revenue $ 8,970.00 =MIN(Order Quantity, Quantity Demand $ 156.00 =Leftovers * Refund per Calendar $ 9,126.00 = Sales + Refund Total Cost Profit $ 4,046.00 =Order Quantity * Cost per Calendar $ 5,080.00 = Total Revenue - Cost $5,865.18 1. 690 Calendars $5,840.82 2. 695 Calendars $5,859.97 3. 700 Calendars $5,854.98 4. 705 Calendars $5,865.20 5. 710 Calendars Quantity Demandec Revenue Sales Refund Total Revenue $ 8,970.00 =MIN(Order Quantity, Quantity Demand $ 156.00 =Leftovers * Refund per Calendar $ 9,126.00 = Sales + Refund Total Cost Profit $ 4,046.00 =Order Quantity * Cost per Calendar $ 5,080.00 = Total Revenue - Cost $5,865.18 1. 690 Calendars $5,840.82 2. 695 Calendars $5,859.97 3. 700 Calendars $5,854.98 4. 705 Calendars $5,865.20 5. 710 CalendarsStep by Step Solution
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