Use Arena to simulate the news vendor problem of Section 2.7.1. Consider just the case q5 160,
Question:
Use Arena to simulate the news vendor problem of Section 2.7.1. Consider just the case q5 160, and run for 30 days to get an average daily prof t and 95% conf dence interval, as well as the proportion of days in which a loss is incurred. The 30 days are independent of each other (that is, nothing carries over from the end of one day to the beginning of the next), and are identically distributed to each other. For the output statistics requested, put a text box inside your .doe f le, or paste in a partial screenshot that provides the requested results. HINT: You should probably think outside the proverbial box about what the entities should be here.
Step by Step Answer:
Simulation With Arena
ISBN: 9780073401317
6th Edition
Authors: W. David Kelton, Randall Sadowski, Nancy Zupick