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unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table. table [ [
unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table. tabletableProcurementCost$Probability,tableLaborCost $Probability,tableTransportationCost $Probability a Compute profit in $ per unit for the basecase scenario. $ b Compute profit in $ per unit for the worstcase scenario. $ c Compute profit in $ per unit for the bestcase scenario. $ d Construct a simulation model to estimate the mean profit in $ per unit. Use at least trials. Round your answer to two decimal places. $ e Why is the simulation approach to risk analysis preferable to generating a variety of whatif scenarios? Simulation will provide of the profit per unit values which can then be used to find of an unacceptably low profit. Round your answer to three decimal places.
unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table.
tabletableProcurementCost$Probability,tableLaborCost $Probability,tableTransportationCost $Probability
a Compute profit in $ per unit for the basecase scenario.
$
b Compute profit in $ per unit for the worstcase scenario.
$
c Compute profit in $ per unit for the bestcase scenario.
$
d Construct a simulation model to estimate the mean profit in $ per unit. Use at least trials. Round your answer to two decimal places. $
e Why is the simulation approach to risk analysis preferable to generating a variety of whatif scenarios?
Simulation will provide of the profit per unit values which can then be used to find of an unacceptably low profit. Round your answer to three decimal places.
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