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Q.3 Complete the following simulation table for purchase of 60 newspapers by computing revenue from sales, loss profit from excess demand, salvage from sale of

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Q.3 Complete the following simulation table for purchase of 60 newspapers by computing revenue from sales, loss profit from excess demand, salvage from sale of scrap and daily profit. Cost data Unit cost 0.221 Unit price 10.40 Unit lost 10.18 Unit refund 0.05 Purchase 60 Type of of Scrap Random Digits for Type of Day Newsday 1 0.94 2 0.51 3 0.46 4 0.78 5 0.24 6 0.47 7 0.40 Newsday Poor Fair Fair Fair Good Fair Fair Random Digits for Demand 0.90 0.35 0.84 0.65 0.84 0.66 0.89 Lost Profit Revenue from from Excess Salvage from Sale Demand Sales Demand Daily Profit 70 60 70 60 90 60 80 Total AvgProfit MinProfit Max Profit

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