Module 8 Discussion - Bidding for a contract Inputs...

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Unformatted text preview: Bidding for a contract Inputs Miller's costs, triangular distributed Min Most likely Max Cost to prepare $300 a bid $350 $500 Cost to complete project $9,000 $10,000 $15,000 Number of potential 4 competitors Probability a given competitor bids 0.5 Parameters of triangular distributions for each competitor's bid (expressed as multiple of Miller's most likely cost to complete project) Min 0.9 Most likely 1.3 Max 1.8 Possible bids for Miller Miller's bid #NAME? $10,500 $11,000 $11,500 $12,000 $12,500 $13,000 $13,500 $14,000 $14,500 Simulation Miller's cost #NAME? a bid to prepare Miller's cost #NAME? to complete project Number of competing bids #NAME? Competitor index 1 2 3 Competitors'#NAME? #NAME? #NAME? bids Minimum competitor bid #NAME? Miller wins bid? (1 if yes, 0 if no) #NAME? Miller's profit NAME? # 4 #NAME? $15,000 ...
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This note was uploaded on 02/01/2012 for the course BUSINES BUS-660 taught by Professor Paulshriver during the Spring '11 term at Grand Canyon.

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