Refer to Case 10.1 Ski Jacket Production on p. 584 in Practical Management Science, and answer the following questions:

14,000 16,000 13,000 8000 14,000 5000 14,000 11,000 15,500 8000 10,500 15,000 a. Based on the demand estimates,

mean =

standard deviation = (round your answers to whole numbers, no commas) Now, perform a Monte Carlo simulation in Excel to determine the mean profit based on 1,000 iterations (trials). Use the following production runs: 9000, 9500, 10000, 10500, and 11000. b. Which production run size gave the highest mean profit?

Table 15.2 Estimated Demands \begin{tabular}{rr} 14,000 & 16,000 \\ 13,000 & 8000 \\ 14,000 & 5000 \\ 14,000 & 11,000 \\ 15,500 & 8000 \\ 10,500 & 15,000 \\ \hline \end{tabular} Table 15.2 Estimated Demands \begin{tabular}{rr} 14,000 & 16,000 \\ 13,000 & 8000 \\ 14,000 & 5000 \\ 14,000 & 11,000 \\ 15,500 & 8000 \\ 10,500 & 15,000 \\ \hline \end{tabular}