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What is the probability that organic bananas are more profitable than conventional? Answer in percentage. Mechanize the Monte Carlo that Maria Keller put together to
What is the probability that organic bananas are more profitable than conventional? Answer in percentage.
Mechanize the Monte Carlo that Maria Keller put together to assist her decision on her Costa Rican banana plantation, specifics provided below: La Hacienda Musa Conventional Bananas Yield (Tonnes/Hectare) Price (Per tonne) Revenue per hectare. Organic Bananas Yield (Tonnes/Hectare) Price premium Price (Per tonne) Revenue per hectare Cost (per Hectare) Profit per hectare Conventional Organic Difference Organic more profitable (yes = 1) Conventional Organic Hectares 100 10.0 220.0 $2,200-Conventional Yield*Conventional Price 9.2 15.0% $253'=(1+Organic Price Premium) * Conventional Price $2,328 -Organic Yield Organic Price 1,800.0 $400' Conventional Revenue/Hectare-ConventionalCost/Hectare $528'=Organic Revenue/Hectare-Organic Cost/Hectare -$128'-Conventional Profit/Hectare-Organic Profit/Hectare 1'=IF(OrganicProfit/Hectare>Conventional Profit/Hectare,1,0) Hectares planted 0 100 Total Profit: Profit $0 = Conventional Profit/Hectare*Conventional Hectares Planted $52,760= Organic Profit/Hectare OrganicHectares Planted $52,760 C
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