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Suppose we generate the following 15 random daily demands. And also, we fix our daily supply to be 40. 20 20 25 35 25 35
Suppose we generate the following 15 random daily demands. And also, we fix our daily supply to be 40. 20 20 25 35 25 35 20 40 30 25 25 30 30 30 30 Calculate the corresponding profit for each simulated daily demand, and answer the following questions. Note, we have 15 simulated profit values. 5) What is the average of the simulated profits? [Select] 6) What is the sample standard deviation of the simulated profits? [Select] 7) What is the 95% confidence interval for the average profit/sample mean profit? [Select]
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