21. The management of ABC company is considering the question of marketing a new product. The fixed...

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21. The management of ABC company is considering the question of marketing a new product. The fixed cost required in the project is Rs 4,000. Three factors are uncertain, viz. the selling price, variable cost and the annual sales volume. The product has a life of only one year. The management has the data on these three factors as under:

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Consider the following sequence of thirty random numbers:
81,32,60,04,46,31,67,25,24, 10,40,02,39,68,08,59,66,90, 12,64,79,31,86,68,82,89, 25, 11, 98, 16.
Using the sequence (first three numbers for the first trial and so on), simulate the average profit for the above project on the basis of 10 trials.

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