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Suppose a retailer has two markets, 1 and 2. Demand 1 follows a normal distribution with mean 98 and standard deviation 10. Demand 2 follows
Suppose a retailer has two markets, 1 and 2. Demand 1 follows a normal distribution with mean 98 and standard deviation 10. Demand 2 follows a continuous uniform distribution in the range [67, 102]. The retailer needs to know the mean and standard deviation of the difference between the demands, i.e., D1-D2. Please describe the conceptual analysis process to find out these two parameters by using simulation (you need to show the steps of simulation and the key excel functions/commands used in each step)
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