Question
Recall the Monte Carlo Simulation example discussed in class. Using the following random digits (same as in the example) The RN for Demand (in
Recall the Monte Carlo Simulation example discussed in class. Using the following random digits (same as in the example) The RN for Demand (in order): 69, 73, 16, 65, 01, 71, 91, 99, 18, 33, 65, 86, 94, 39, 38, 84, 45, 91, 03, 81 The RN For Delivery Time(in order): 64, 39, 19, 69, 34, 91, 42, 25 Simulate the worksheets: 1. a) Q=7, R=3, without multiple ordering policy 2. b) Q-8,R-4, with and with multiple ordering policy Use the same costs and RN given Analysis: would you expect the optimal Q to be higher or lower than the values given? Would the optimal R be higher or lower than values given? Explain
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