The \"= RAND()\" function results in a random number for week #1 of 0.1705. The

Question

The "= RAND()" function results in a random number for week #1 of 0.1705. The "= VLOOKUP" function is used with the table above to generate a random car demand for week #1. The resulting random car demand for this week is:

A.1 B.2 C.3 D.4

The "= RAND()" function results in a random number for week #1 of 0.2239. The "= VLOOKUP" function is used with the table above to generate a random car demand for week #1. The resulting random car demand for this week is:

A.1 B.2 C.3 D.4

The "= RAND()" function results in a random number for week #1 of 0.7587. The "= VLOOKUP" function is used with the table above to generate a random car demand for week #1. The resulting random car demand for this week is

A.1 B.2 C.3 D.4

The following table shows the probability of demand for automobiles used in an Excel simulation LOWER RANGE PROBABILITY OF CAR PROBABILITY DEMAND DEMAND 0.00 0.08 1 0.10 0.08 2 0.20 0.18 3 0.35 0.38 4 0.73 0.15 5 0.12 0.88 1.00

Explanation / Answer

When the [range_lookup] is set to TRUE, this tells the Vlookup function that, if an exact match to the lookup_value is not found, then the closest match below the lookup_value should be returned instead.

a)

Since the Rand() = 0.1705 is not an exact match in the table, the lowest value is 0.08. So it will return 1

b)

Similarly for 0.2239, it will return 2

c)

For 0.7587, it will return 4

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