The demand for soda bottles at a particular show is either 30, 40, 44, 60 or 55
ID: 3182837 • Letter: T
Question
The demand for soda bottles at a particular show is either 30, 40, 44, 60 or 55 with probabilities of 35%, 30%, 20%, 10% or 5% respectively. Assume the following random number have been generated: 23, 28, 30, 35, 21, 19, 70, 64, 53 and 76. Using these numbers, set up an Excel spreadsheet that generates soda bottle demand for 10 days. What is the average demand for soda bottles for these randomly generated numbers? (Note: Please submit the spreadsheet with your solution.) Can you explain your answer.
Explanation / Answer
According to the Demand of probabilities :
Cumulative probability = P(X)+P(X-1)= 0.35+0.30= 0.65
Random selection = Percentage of numbers covered = 35% = 1 to 35
The simulated demand for next 10 days
Determination Of Demand :
Demand is selection of demand as per random number from above table
The average demand for Soda bottles for the randomly generated numbers is = Total Demand/Number of days
Average Demand = 348 / 10 = 34.8 Bottles per Day
Demand Probability Cumulative Probability Random No's Selection 30 0.35 0.35 1-35 40 0.30 0.65 36-65 44 0.20 0.85 66-85 60 0.10 0.95 86-95 55 0.05 1.00 96-100Related Questions
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