How do I get the 0.20 for probability in excel? A manager is simulating the number of times a machine operator stops a machine to make adjustments. After careful study themanager found that the number of stops ranged from one to five per cycle and that each number of stops was equally likely. Using therandom numbers 0.54 and 0.71 (in that order), determine how many stops for adjustments each of the next two cycles will have.The first cycle will have3 stops and the second cycle will haveExplanationA random number of 0.54 falls within the range for a total number of stops of 3. A random number of 0.71 falls within the range for a total number ofstops of 4stops12345Probability0.200.200.200.200.20stopsCorresponding Random Numbers0≤x≤0.200.20 < x≤ 0.400.40 < x≤ 0.600.60 < x≤ 0.800.80 x 1.00

I am not providing an explanation for the answer because It was already calculated in the given…

Answered: A manager is simulating the number of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

Which of the following are important to investors evaluating direct participation programs? I. The economic soundness of the program II. The expertise of the general partner III. The basic objectives of the program IV. The start-up costs A I, II, and IV B I, II, and III C I, II, III, and IV D II, III, and IV
For a given perishable product, a retailer pays $5 for each unit, then sells them for $10 each. At the end of the day, units not sold at the store are disposed of, and the retailer receives just $1 for each. Given the following probability distribution describing daily demand, how many units should be stocked? x Prob. (Demand = x) x Prob. (Demand = x) 0 0.01 7 0.18 1 0.02 8 0.14 2 0.04 9 0.09 3 0.07 10 0.05 4 0.09 11 0.02 5 0.12 12 0.01 6 0.15 13 0.01
3 00 Which of the following is/are fully exempt from Capital Gains Tax? Select one: O a. A family home which was owned for 15 years by the taxpayer and has been rented out for the last 7 years as the taxpayer relocated to the UK for work purposes. The owner, upon returning to Australia, has lived in the property for 2 months prior to selling the house (to fund the purchase of a new family home). There have been no other claims of main residence by the taxpayer. O b. A motor vehicle purchased by the taxpayer, held for 24 months then disposed of for a value above the cost base. c. O d. O e. A lottery win by a Uber driver. Two of the specific events are fully exempted from CGT. All of the specific events are fully exempted from CGT.
What is the magic and the science of prediction markets ? (New product prediction markets)
Government officials must decide how to reduce the amount of Magentum being adulterated in the future. According to Becker, which of the following are options that could get the same expected cost of crime commission? 1 - Increase the probability of detection and conviction and combine that with a low sanction. 2 - Change the opportunity cost of the crime. 3 - Keep a low risk of probability of detection and conviction but impose a very high sanction. 1 and 3 1, 2, 3 1 and 2 2 and 3
All of the following are considerations in risk assessment for framing health policies, except a. Does the outcome vary with degree of exposure, such as higher levels of exposure being more strongly associated with the outcome? b. Which groups are the most exposed to the factor(s) under consideration, and in what maginitude and frequency? c. Will an industry incur loss or see a narrowing of their profit margins if regulations to mitigate adverse health impacts of an associated product are implemented? d. What is the quality of evidence regarding strength of association between a potentially harmful exposure and an outcome?
Pls help ASAP on both
Sh8
Please show all work and explain answer. OneRing Company sells memorabilia to residents of Middle-Earth. They are about to invest $6 million in a new ring making plant. Fixed costs of operating the plant are $1 million a year. The ring costs $60/unit to manufacture (variable cost) and will be sold for $200/unit. The plant will last for 5 years, and will be depreciated over 5 years to zero using the straight-line method. The plant will have no salvage value after five years. Net working capital requirements are negligible for this project. Assume there are no taxes in Middle-Earth, and that the appropriate discount rate for the project is ten percent. How many rings per year must OneRing sell in order to break even?
Describe the DECISION MAKING UNDER RISK?
What are two challenges that simulation models might represent well?
A category of economic risk is: Liability risk Personal risk Property Risk All of the answers are correct None of the answers are correct

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS