Lab Exercise III ISE 3424 – Discrete-Event Simulation Pasupathy, Spring 2010 In the previous lab exercise, you solved the Milkvendor Problem in Excel. In this lab exercise, towards introducing you to MATLAB, we will solve the Milkvendor Problem in MATLAB. Recall the milkvendor problem : Suppose a milkvendor buys x gallons of milk each day — the cost-price is c = 1 . 90 dollars per gallon, and the selling price is s = 2 . 75 dollars per gallon. Say he disposes any leftover milk at the end of the day for v = 0 . 30 dollars per gallon. Customers arrive through the day to purchase milk. Let the random variable D represent the total demand for milk on any particular day. Assume that D is uniformly distributed between 0 and 100 gallons. Our objective is to identify that quantity x which maximizes the milkvendor’s expected proFt. (i) Open the uniform random number generator (u16807d.m) provided to you. Notice that it has one input (a random seed) and two outputs (the next random seed, a random
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Randomness, random seed, 0.30 dollars, 1.90 dollars, 2.75 dollars