2 The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributionsfor the purchase cost, the labor cost, and the transportation cost are estimated as follows.ProcurementLaborProbabilityCost ($)Probability Transportation Cost (4) ProbabilityCost ($)100.25200.100.75110.40220.200.25120.35240.40250.30(a) Construct a simulation model to estimate the average profit (in $) per unit and the variance of the profit per unit. (Use at least 1,000 trials. Round your answer to two decimal places.)average s 0.00varianceWhat is a 95% confidence interval (in $) around this average? (Round your answers to two decimal places.)(b) Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability that the profit per unit will be less than $5. (use atleast 1,000 trials. Round your answer to three decimal places.)What is a 95% confidence interval around this proportion? (Round your answers to three decimal places.)to

Here the unit formula is given by --> Unit profit =Unit revenue - (Procurement +Lbour +…

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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Course: Management Informatin Systems 1 This activity demonstrates how to create graphics to enhance the presentation of quantitative data Scenario The sales manager for a small manufacturer is interested in marketing the company's rain coat line in a new area of the country. As a first step to establishing a marketing plan she has asked you to produce some graphs showing the market share of the products sold over the past several years in the region. Analysis After some research, you acquire the approximate sales for each of the competing products presently in the region under consideration (See the data given below). The question now is to show how best to organize the data to take advantage of a graphical analysis. Pie charts give a quick overview of the market share "slices” each competitor presently enjoys. So you decide to use a pie chart to graph the most recent year's sales data for the region. This will give a good indication of just who the market leaders are and how crowded…
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Louisiana is busy designing new lottery scratch-off games. In the latest game, Bayou Boondoggle, the player is instructed to scratch off one spot: A, B, or C. A can reveal "Loser," "Win $2," or "Win $15." B can reveal "Loser" or "Take a Second Chance." C can reveal "Loser" or "Win $500." On the second chance, the player is instructed to scratch off D or E. D can reveal "Loser" or "Win $2." E can reveal "Loser" or "Win $15." The probabilities at A are 0.70, 0.19, and 0.11. The probabilities at B are 0.75 and 0.25. The probabilities at C are 0.995 and 0.005. The probabilities at D are 0.6 and 0.4. Finally, the probabilities at E are 0.94 and 0.06. Draw the decision tree that represents this scenario. Use proper symbols and label all branches clearly. Calculate the expected value of this game. Choose the correct decision tree below. OA. O C. B Loser (0.995) Win $2 (0.00) Win $500 (0.005) Loser (0.75) 2 Second Chance (0.25) 0 Loser (0.6) 0 Win $2 E Loser (0.70) 0 0.4) 2 Loser (0.94) Win $2…
Q.1) Identify other key resources or capabilities possessed by Next discussed in the article. Capabilities: One of Next’s main capability which Wolfson implemented on Next was to change the existing methodology that was used by Bronek Masojada, with respect to his ideology which he executed was the use of the catalogue, and replace it with modern day technology by introducing ecommerce, which paved way for consumers to purchase goods online, this then gave Next a leverage over other stores as well as avoid the disturbances caused by Covid-19. With ecommerce next has been capable of generating 500m in sales in overseas Online store label which started off as an experiment selling sports wear has been making good money around 500m just last year With the innovation of total platform next has become online host for other well known brands to help launch their products on ecommerce. Which can bring customers to next website. With covid-19 around the corner next online sales have been all…

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