I mainly need help working through what to enter into Excel to simulate the 52 weeks of demand. Weekly demand for golf balls at the Happy Valley Golf Club pro shop is normally distributed with a mean of 23 cases and a standard deviation of 6.5 cases. The club gets a profit of $24 per case. a. Simulate 52 weeks of demand, and calculate the average weekly profit. b. What is the probability that weekly profit will exceed $500?

I mainly need help working through what to enter into Excel to simulate the 52 weeks of demand. Weekly demand for golf balls at the Happy Valley Golf Club pro shop is normally distributed with a mean of 23 cases and a standard deviation of 6.5 cases. The club gets a profit of $24 per case. a. Simulate 52 weeks of demand, and calculate the average weekly profit. b. What is the probability that weekly profit will exceed $500?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Use the normal distribution of SAT critical reading scores for which the mean is 514 and the standard deviation is 115. Assume the variable x is normally distributed. (a) What percent of the SAT verbal scores are less than 650? (b) If 1000 SAT verbal scores are randomly selected, about how many would you expect to be greater than 550? Click to view page 1 of the standard normal table. LOADING... Click to view page 2 of the standard normal table. LOADING... Question content area bottom Part 1 (a) Approximately 1.181.18% of the SAT verbal scores are less than 650. (Round to two decimal places as needed.) Part 2 (b) You would expect that approximately 0.880.88 SAT verbal scores would be greater than 550. (Round to the nearest whole number as needed.)
Insurance companies make bets. They bet that you’re going to live a long life. An insurance company offers a “death and disability” policy that pays average of $10,000 when you die with a standard deviation of $1,000 or pays average $5000 if you are permanently disabled with standard deviation of $1,000. Assuming the distribution of the policy payout is normal. What percentage of pay will lie between payout of $7,000 and $9,000 when you die? What percentage of the payout will lie below $7,500 if you are permanently disabled? What percentage of the policy will lie above $8,100 when you die?
Recently, a random sample of 13-18 year olds was asked, "How much do you currently have in savings?" The data in the table represent the responses to the survey. Approximate the mean and standard deviation amount of savings. Click the icon to view the frequency distribution for the amount of savings. The sample mean amount of savings is $ (Round to the nearest dollar as needed.) Frequency distribution of amount of savings Savings $0-$199 $200-$399 $400-$599 $600-$799 $800-$999 $1000-$1199 $1200-$1399 Print Frequency 338 97 50 25 10 7 3 Done X
Jse the Empirical Rule. The mean speed of a sample of vehicles along a stretch of highway is 64 miles per hour, with a standard deviation of 4 miles per hour. Estimate the percent of vehicles whose speeds are between miles per hour and 72 miles per hour. (Assume the data set has a bell-shaped distribution.) Approximately % of vehicles travel between 56 miles per hour and 72 miles per hour.
What does the standard deviation tell you about a set of data?
As the plant operations manager for Oxford Biotech, you are responsible for monitoring the amount of product placed in each carton. To be consistent with package labeling, cartons should contain a mean of 368 grams of product. Thousands of cartons are produced during a shift, and weighing every single carton was determined to be too time-consuming, costly, and inefficient. Instead, a random sample of cartons is selected. Based on your analysis of the sample, you had to decide whether to maintain, alter, or shut down the process. Using the concept of the sampling distribution of the mean, you can determine the probability that such a sample mean could have been randomly selected from a population with mean of 368 grams. Specifically, if a sample size of n = 25 is selected from a population with mean of 368 grams and standard deviation of 15, the probability of selecting a sample with a mean of 365 grams or less is Enter your answers using 4 decimal places (Do NOT enter as a percentage).
College Professors have incomes with a standard deviation that is less than $21,000. A recent study of 225 College Professors income showed a standard deviation of $24,750. State whether it is Right Tail (one), Left Tail (one), In between, or Two tailed?
Cody took his first physics exam and scored an 80. The population mean for this exam is 70, and the standard deviation is 5. What is the probability of selecting a person with a score greater than Cody’s?
The average number of milligrams (mg)of cholesterol in a cup of certain brand of rice is 660 mg,the standard deviation is 35 mg.assume the variable is normally distributed .if a sample of 10 cups of ice cream is selected what is probable that the mean of the sample will be larger than 670 mg? Solution (Box your final answer)
z Scores LeBron James, one of the most successful basketball players of all time, has a height of 6 feet 8 inches, or 203 cm. Based on statistics from Data Set 1 “Body Data” in Appendix B, his height converts to the z score of 4.07. How many standard deviations is his height above the mean?
In an Algebra class, the scores on a test are normally distributed. The middle 68% of the scores fall between 69 and 81. What are the mean and standard deviation for this data? Standard Normal Curve Mean: Standard Deviation:
Plzz explain. Ty