The management of Brinkley Corporation is interested in using simulation to estimate the profit (in $) per unit for a new product. The selling price for the product will be $44 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table. Procurement Cost($) 10 11 12 $ Probability 0.25 0.45 0.30 Labor Cost ($) 20 22 24 25 Probability 0.10 0.25 0.35 0.30 (a) Compute profit (in $) per unit for the base-case scenario. /unit (b) Compute profit (in $) per unit for the worst-case scenario. $ /unit (c) Compute profit (in $) per unit for the best-case scenario. /unit Transportation Cost ($) 3 5 Probability 0.75 0.25 (d) Construct a simulation model to estimate the mean profit (in $) per unit. (Use at least 1,000 trials. Round your answer to two decimal places.) $

The management of Brinkley Corporation is interested in using simulation to estimate the profit (in $) per unit for a new product. The selling price for the product will be $44 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated in the following table. Procurement Cost($) 10 11 12 $ Probability 0.25 0.45 0.30 Labor Cost ($) 20 22 24 25 Probability 0.10 0.25 0.35 0.30 (a) Compute profit (in $) per unit for the base-case scenario. /unit (b) Compute profit (in $) per unit for the worst-case scenario. $ /unit (c) Compute profit (in $) per unit for the best-case scenario. /unit Transportation Cost ($) 3 5 Probability 0.75 0.25 (d) Construct a simulation model to estimate the mean profit (in $) per unit. (Use at least 1,000 trials. Round your answer to two decimal places.) $

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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