6 The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. Theselling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and thetransportation cost are estimated as follows.ProcurementLaborProbabilityProbability Transportation Cost ($) ProbabilityCost ($)Cost ($)100.25200.150.75110.40220.200.25120.35240.35250.30(a) Construct a simulation model to estimate the average profit (in $) per unit and the variance of the profit per unit. (Use atleast 1,000 trials. Round your answer to two decimal places.)averagevarianceWhat is a 95% confidence interval (in $) around this average? (Round your answers to two decimal places.)to $(b) Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation toestimate the probability that the profit per unit will be less than $5. (Use at least 1,000 trials. Round your answer to threedecimal places.)What is a 95% confidence interval around this proportion? (Round your answers to three decimal places.)to

Find the Given details below: Given details: Procurement cost Probability Labor cost…

Answered: The management of Brinkley Corporation…

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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1 . S u p p o s e t h a t s o m e o n e s t o l e y o u r A T M c a r d a n d w i t h d r e w P 5 0 , 0 0 0 . 0 0 f r o m y o u r c h e c k i n g a c c o u n t . H o w m u c h m o n e y c o u l d y o u l o s e i f y o u r e p o r t e d t h e s t o l e n c a r d t o t h e b a n k : ( N o t e : I t i s b a s e d i n t h e P h i l i p p i n e )a ) T h e d a y t h e c a r d w a s st o l e n b ) 6 d a y s a f t e r t h e t h e f tc ) 7 5 d a y s a f t e r r e c e i v i n g y o u r p e r i o d i c s t a t e m e n t
1. A s s u m e y o u g o t y o u r d e g r e e f r o m c o l l e g e a n d a c c e p t e d a p o s i t i o n w i t h a m a j o r c o n s u m e r g o o d s b u s i n e s s . Y o u l o s e y o u r j o b w h e n t h e c o r p o r a t i o n d o w n s i z e s a f t e r t h r e e y e a r s . D e s c r i b e t h e p r o c e d u r e s y o u w o u l d f o l l o w t o " r e p a c k a g e " y o u r s e l f f o r a d i f f e r e n t f i e l d . 2. A s s u m e y o u ' r e i n y o u r t h i r d y e a r o f c o l l e g e . G i v e t h r e e f i n a n c i a l g o a l s a n d r e l a t e d a c t i v i t i e s y o u c a n r e c o m m e n d . P l e a s e m a k e t h e a n s w e r q u i t e l o n g f o r m e t o u n d e r s t a n d i t m o r e , w i l l i n g t o g i v e g o o d r a t i n g

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