Question

4. The manager of ComputerWorld, a store that sells computers and related equipment, is attempting to determine how many laptops the store should order each week. A primary consideration in this decision is the average number of laptops that the store will sell each week and the average weekly revenue generated from the sale of laptops. A laptop sells for $4300. The number of laptops demanded each week is a random variable (which we will define as x) that ranges from 0 to 4. From past sales records, the manager has determined the frequency of demand for laptops for the past 100 weeks. From this frequency distribution, a probability distribution of demand can be developed, as shown in Table below Probability of Demand P(x) 0.2 0.4 0.2 0.1 0.1 Laptop Demanded per Week, x 0 Frequency of Demand 20 40 20 10 10 Using Monte Carlo process I. Simulate demand for a 15 week period I Estimate Average demand and compare this to the expected demand

Answer 1

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