PRACTICAL MGT. SCIENCE (LL)-W/MINDTAP
PRACTICAL MGT. SCIENCE (LL)-W/MINDTAP
6th Edition
ISBN: 9781337610278
Author: WINSTON
Publisher: CENGAGE L
bartleby

Concept explainers

bartleby

Videos

Textbook Question
Book Icon
Chapter 10.5, Problem 18P

Continuing the previous problem, assume, as in Problem 11, that the damage amount is normally distributed with mean $3000 and standard deviation $750. Run @RISK with 5000 iterations to simulate the amount you pay for damage. Compare your results with those in the previous problem. Does it appear to matter whether you assume a triangular distribution or a normal distribution for damage amounts? Why isn’t this a totally fair comparison? (Hint: Use @RISK’s Define Distributions tool to find the standard deviation for the triangular distribution.)

Blurred answer
Students have asked these similar questions
I need answer typing clear urjent no chatgpt used pls i will give 5 Upvotes.
assume that you are police commander which leads and supervises the department’s internal affairs division. Your goal is to reduce civilian complainants against personnel in the department. Using what you have learned and at least three scholarly sources, document two changes you see the department can implement, whether it be training, planning, mitigating, and resolving, to improve police/community relations.
Ness Engineering is a private limited company mainly engaged in the continuous production and assembly of domestic products. The annual turnover is $900,000,000. The largest area of expenditure is raw materials and components where the annual spend is approximately $450,000,000. The Managing Director, Bill, considers that profit margins are too small and has asked you to suggest how profitability might be increased. Bill suggests that this might be done by appointing additional sales staff and by an advertising campaign, which would, hopefully, increase turnover and thereby reduce overhead cost per item. You find that purchasing is little more than a post-office function. Specifications are received from the design or user departments and sent either to supplies designated by the directors or to the supplier providing the cheapest quotation. The company does, in fact, deal with many suppliers and issues many orders for low-cost items. All purchasing is done by manual means. None of the…

Chapter 10 Solutions

PRACTICAL MGT. SCIENCE (LL)-W/MINDTAP

Ch. 10.4 - Prob. 13PCh. 10.4 - Prob. 14PCh. 10.4 - Prob. 15PCh. 10.5 - If you add several normally distributed random...Ch. 10.5 - In Problem 11 from the previous section, we stated...Ch. 10.5 - Continuing the previous problem, assume, as in...Ch. 10.5 - In Problem 12 of the previous section, suppose...Ch. 10.5 - Use @RISK to analyze the sweatshirt situation in...Ch. 10.5 - Although the normal distribution is a reasonable...Ch. 10.6 - When you use @RISKs correlation feature to...Ch. 10.6 - Prob. 24PCh. 10.6 - Prob. 25PCh. 10.6 - Prob. 28PCh. 10 - Six months before its annual convention, the...Ch. 10 - Prob. 30PCh. 10 - A new edition of a very popular textbook will be...Ch. 10 - Prob. 32PCh. 10 - W. L. Brown, a direct marketer of womens clothing,...Ch. 10 - Assume that all of a companys job applicants must...Ch. 10 - Lemingtons is trying to determine how many Jean...Ch. 10 - Dilberts Department Store is trying to determine...Ch. 10 - It is surprising (but true) that if 23 people are...Ch. 10 - Prob. 40PCh. 10 - At the beginning of each week, a machine is in one...Ch. 10 - Simulation can be used to illustrate a number of...Ch. 10 - Prob. 43PCh. 10 - Prob. 46PCh. 10 - If you want to replicate the results of a...Ch. 10 - Suppose you simulate a gambling situation where...Ch. 10 - Prob. 49PCh. 10 - Big Hit Video must determine how many copies of a...Ch. 10 - Prob. 51PCh. 10 - Prob. 52PCh. 10 - Why is the RISKCORRMAT function necessary? How...Ch. 10 - Consider the claim that normally distributed...Ch. 10 - Prob. 55PCh. 10 - When you use a RISKSIMTABLE function for a...Ch. 10 - Consider a situation where there is a cost that is...
Knowledge Booster
Background pattern image
Operations Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Single Exponential Smoothing & Weighted Moving Average Time Series Forecasting; Author: Matt Macarty;https://www.youtube.com/watch?v=IjETktmL4Kg;License: Standard YouTube License, CC-BY
Introduction to Forecasting - with Examples; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=98K7AG32qv8;License: Standard Youtube License