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Chapter7Q01answer - Chapter 7 Question 1 Monochrome Color...

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Chapter 7 Question 1 Monochrome Color Probability Total profit 0.4 $ Demand = 0 0.2 0.08 0 Demand = 0 0.6 Demand =1 0.12 200 0.4 Demand = 0 0.5 0.2 100 Demand =1 0.6 Demand =1 0.3 300 0.4 Demand = 0 0.3 0.12 200 Demand =2 0.6 Demand =1 0.18 400 a) The tree shows that the probability distribution for profit is: Profit ($) Probability 0 0.08 100 0.20 200 0.12 + 0.12 = 0.24 300 0.30 400 0.18 1.00
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b) Assignment of random numbers Monochrome Color Demand Prob. Random no. Demand Prob. Random no. per week % range per week % range 0 20 00–19 0 40 00–39 1 50 20–69 1 60 40–99 2 30 70–99 Simulation worksheet Monochrome Color
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