Multiple Choice
Use the data set shown below to answer the following question(s) .
For this Newsvendor model,fit a distribution with Crystal Ball and use the Decision Table tool for analysis.Use 5,000 trials for the simulation.
-Using Crystal Ball for the data set shown above,identify the purchase quantity that provides the largest average profit.
A) Purchase quantity 54
B) Purchase quantity 53
C) Purchase quantity 56
D) Purchase quantity 60
Correct Answer:

Verified
Correct Answer:
Verified
Q16: What is Monte Carlo simulation?<br>A)It is the
Q17: Use the data shown below to answer
Q18: Risk analysis seeks to examine the impacts
Q19: Optimum consulting is concerned about the maximum
Q20: Use the data shown below to answer
Q22: Explain instances where we have to use
Q23: What is bootstrapping in Crystal Ball?<br>A)It is
Q24: In the analytical approach,if more than one
Q25: In the analytical approach,the probabilities of completing
Q26: In Crystal Ball,uncertain inputs are called _.<br>A)assumptions<br>B)decisions<br>C)forecasts<br>D)run