A manufacturer of laptop computers wishes to simulate profit per week. On an Excel worksheet, perform...
A manufacturer of laptop computers wishes to simulate profit per week. On an Excel worksheet, perform the simulation using 1,000 trials.
The profit equation is: Z = VP – CF – VCV, where the symbols have the meanings given in the text.
The assumptions are:
Demand ( V ) is normally distributed with a mean of 1,250 computers and a standard deviation of 100 computers
Price ( P ) is uniformly distributed from $700 to $850 per computer
Fixed costs are ( CF ) are $200,000 per week
Variable costs per computer sold ( CV ) follow this discrete distribution:
Cost:. ... $350...$450....$575...
Probability: .10 .... .60 .... .30
Use Excel to obtain the following statistics for your 1,000 simulation runs of Profit: mean, standard deviation, the 95% confidence interval for the true population mean profit, coefficient of variation (CV), profit margin (profit as % of revenue), probability of a loss, and probability of making breakeven or better.
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