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

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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...

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