3. Dumoor Appliance Center sells and services several brands of major appliances. Pastsales for a particular model of the refrigerator have resulted in the following probabilitydistribution for demand:DEMAND PER WEEK2 34Probability0.200.400.200.150.05The lead time, in weeks, is described by the following distribution:LEAD TIME (WEEKS)2Probability0.150.350.50Based on cost considerations as well as storage space, the company has decided toorder 10 of these each time an order is placed. The holding cost is $1 per week for eachunit that is left in inventory at the end of the week. The stockout cost has been set at $40per stockout. The company has decided to place an order whenever only tworefrigerators are left at the end of the week. Simulate 20 weeks of operation for DumoorAppliance, assuming there are currently 5 units in inventory. Determine what the weeklystockout and weekly holding costs would be for the problem. Use the line 151 to 170 in1st column for the demand and the 2nd column for the lead time.

Answered: Image /qna-images/answer/9a7dc7c0-4a3b-470e-81b1-d9d86ab4b587.jpg

Answered: 3. Dumoor Appliance Center sells and…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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2. Suppose annual benefits for a particular item are distributed uniformly between 200 and 250. a. What's the expected value for the item's annual benefits? b. Suppose an item chosen at random gets annual benefits of $231. What percentile is this in? c. What's the likelihood of the item being profitable if its cost is $1475, its salvage value is $100, its life is 7 years, and interest is 5%?
The most important measure in any business is a successful purchase of their product. Task success is a discrete measure (0 is fail, 1 is successful purchase). The following table shows a discrete distribution across 100 clients for product purchase. Table 4 ((purchase success) P(probability purchase) v Calculate the expected value for table4? 0.1 0.3 |0.2 0.4 A. 0.0625 Calculate the discrete variance for table 4? B. 1.04 v What is the binomial probability that you find less than 11 clients who will buy your extended warranty C. 1.90 if you present to 79 clients, and the probability of a client buying a warranty after your presentation is 20%? D. 2 v What is the binomial expected value a client buys your extended warranty if the probability is 20% and 79 E. 4.620 clients are in the sample? F. 1.09 G. 15.80 v What is the binomial variance when a client buys your extended warranty if the probability of buying is 20% and 79 clients are in the sample? H. 12.64 1. 0.91 J. 10/79 K. 3.56 L.…
(Note: Choices given in the dropdown list are rounded.) SciTool is now bidding for another contract. From historical data, there's a 15% chance that there are no other firms bidding for the contract. We also know if there are competitors, their bidding prices follow the following distribution. Competitor's bid price probability between $1.1M and $2.6M $1.9M 0.25 0.30 0.3 0.05 Suppose SciTool bids $1.05M. What is the winning probability of SciTool? [Select] If SciTool wins, they get a payoff of (bid price - $0.5M), while if they lose, they incur a payoff of -0.2M. What is their expected payoff? [Select )
Yorkies Company has fixed costs of $80,000 per month. Variable costs are $12 per item produced. The selling price per unit is fixed at $20. From the past company data, you have determined that Yorkies Company's monthly output follows a normal probability distribution with mean 11,100 and variance 550,000 . Calculate the chance that Yorkies will make a loss this month. a.11% b.10% c.9% d.7% e.7%
(All answers were generated using 1,000 trials and native Excel functionality.) The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows: ProcurementCost ($) Probability LaborCost ($) Probability TransportationCost ($) Probability 10 0.25 20 0.10 3 0.75 11 0.45 22 0.25 5 0.25 12 0.30 24 0.35 25 0.30 (a) Construct a simulation model to estimate the average profit per unit. What is a 95% confidence interval around this average? Round your answers to two decimal places. Lower Bound: $ Upper Bound: $
A certain portfolio’s value increases by 30% during a financial boom, increases by 5% during normal times and it decreases by 2% during a recession. Suppose each scenario is equally likely and you invested $200 in this portfolio. . 1.Create a probability model for your net gain. 2.What is the expected net gain when you invest $200 in this portfolio? 3.What’s the standard deviation of your net gain when you invest $200 in this portfolio?
12. Calculate the expected life of refrigerators at the age of 7 using the following data. Age: up 2 2-4 4-6 6–8 8-10 10-12 16 13 7 5 4 Girls:
Show your complete solution.
A food truck near the University of Windsor specializes in healthy sandwiches. The sandwiches are prepared fresh each morning and any unsold sandwiches are donated to a food bank. Each sandwich costs $6 to make and sells for $10. The daily number of sandwiches sold, x, has the following distribution: (shown in image) a. Fill in the missing probability in the table above b. What is the expected daily profit? (hint: find the mean of x and multiply it by profit per sandwich) c. Find the mean, variance and standard deviation of the number of daily number of sandwiches sold. d. What is P(x  2| x < 4)?
6. For an insurance coverage, claim counts follow a binomial distribution with m = 4. q varies by insured with the following probabilities: 0.1 0.2 0.3 Probability 0.5 0.25 0.25 An insured submits 0 claims in the first year and 3 claims in the second year. Calculate the predictive probability of the same insured submitting 0 claims in the third year.
Select one method to filter conditional volatility. Present and interpret descriptive statistics of conditional volatility of (i) overnight returns, (ii) intraday returns, and (iii) total returns.
Suppose that the price of a share of a particular stock listed on the New York Stock Exchange is currently $39. The following probability distribution shows how the price per share is expected to change over a three-month period: Stock Price Change Probability -2 0.05 -2 0.10 0 0.25 1 0.20 2 0.20 3 0.10 4 0.10 a. Construct a spreadsheet simulation model that computes the value of the stock price in 3 months by simulating the price change 100 times. b. For a current price of $39 per share, what is the average stock price per share 3 months from now based on your simulation?

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