5. Use @RISK to draw a triangular distribution withparameters 300, 500, and 900. Then answer the following questions.a. What are the mean and standard deviation of thisdistribution?b. What are the 5th and 95th percentiles of this distribution?c. What is the probability that a random number fromthis distribution is less than 450?d. What is the probability that a random number fromthis distribution is greater than 650?e. What is the probability that a random number fromthis distribution is between 500 and 700?

5. Use @RISK to draw a triangular distribution withparameters 300, 500, and 900. Then answer the following questions.a. What are the mean and standard deviation of thisdistribution?b. What are the 5th and 95th percentiles of this distribution?c. What is the probability that a random number fromthis distribution is less than 450?d. What is the probability that a random number fromthis distribution is greater than 650?e. What is the probability that a random number fromthis distribution is between 500 and 700?

Name: 5. Use @RISK to draw a triangular distribution withparameters 300, 500
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Description: 5. Use @RISK to draw a triangular distribution withparameters 300, 500, and 900. Then answer the following questions.a. What are the mean and standard deviation of thisdistribution?b. What are the 5th and 95th percentiles of this distribution?c. What

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section10.2: Probability Distributions For Input Variables

Problem 6P: Use @RISK to draw a binomial distribution that results from 50 trials with probability of success...

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Use @RISK to draw a binomial distribution that results from 50 trials with probability of success 0.3 on each trial, and use it to answer the following questions. a. What are the mean and standard deviation of this distribution? b. You have to be more careful in interpreting @RISK probabilities with a discrete distribution such as this binomial. For example, if you move the left slider to 11, you find a probability of 0.139 to the left of it. But is this the probability of less than 11 or less than or equal to 11? One way to check is to use Excels BINOM.DIST function. Use this function to interpret the 0.139 value from @RISK. c. Using part b to guide you, use @RISK to find the probability that a random number from this distribution will be greater than 17. Check your answer by using the BINOM.DIST function appropriately in Excel.
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Dilberts Department Store is trying to determine how many Hanson T-shirts to order. Currently the shirts are sold for 21, but at later dates the shirts will be offered at a 10% discount, then a 20% discount, then a 40% discount, then a 50% discount, and finally a 60% discount. Demand at the full price of 21 is believed to be normally distributed with mean 1800 and standard deviation 360. Demand at various discounts is assumed to be a multiple of full-price demand. These multiples, for discounts of 10%, 20%, 40%, 50%, and 60% are, respectively, 0.4, 0.7, 1.1, 2, and 50. For example, if full-price demand is 2500, then at a 10% discount customers would be willing to buy 1000 T-shirts. The unit cost of purchasing T-shirts depends on the number of T-shirts ordered, as shown in the file P10_36.xlsx. Use simulation to determine how many T-shirts the company should order. Model the problem so that the company first orders some quantity of T-shirts, then discounts deeper and deeper, as necessary, to sell all of the shirts.
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Use @RISK to draw a triangular distribution with parameters 300, 500, and 900. Then answer the following questions.a. What are the mean and standard deviation of this distribution?b. What are the 5th and 95th percentiles of this distribution?c. What is the probability that a random number from this distribution is less than 450?d. What is the probability that a random number from this distribution is greater than 650?e. What is the probability that a random number from this distribution is between 500 and 700?
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