Answer to the above question
The given problem has been solved using Monte carlo Simulation Technique | |||||||||
Step I | |||||||||
First of all random numbers 00-99 are allocated in proportion to the probabilities associated with the demand of Tuna Sandwiches | |||||||||
Demand | Probability | Cumulative Probability | Range of random numbers | ||||||
8 | 0.30 | 0.30 | 00 - 30 | ||||||
9 | 0.30 | 0.60 | 31 - 60 | ||||||
10 | 0.10 | 0.70 | 61 - 70 | ||||||
11 | 0.30 | 100.00 | 71 - 00 |
Step 2 | |||||||||
WN- II | |||||||||
Based on the given random numbers , we simulate the estimated sales | |||||||||
Day | Random Numbers | Demand | |||||||
1 | 49 | 9 | |||||||
2 | 21 | 8 | |||||||
3 | 97 | 11 | |||||||
4 | 45 | 9 | |||||||
5 | 34 | 9 | |||||||
6 | 69 | 10 | |||||||
7 | 39 | 9 | |||||||
8 | 92 | 11 | |||||||
9 | 30 | 8 | |||||||
10 | 66 | 10 | |||||||
According to the above table for Random number simulation the sale for random number 49 will be 9 sandwitches |
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