The management of Brinkley Corporation is Interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability...

find A and B pleaseThe management of Brinkley Corporation is Interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability<br>distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows.<br>Labor<br>Probability Cost ($)<br>Procurement<br>Probability<br>Transportation Cost ($) Probability<br>Cost ($)<br>10<br>0.25<br>20<br>0.15<br>3<br>0.75<br>11<br>0.40<br>22<br>0.20<br>0.25<br>12<br>0.35<br>24<br>0.35<br>25<br>0.30<br>(a) Construct a simulation model to estimate the average profit (in $) per unit and the variance of the profit per unit. (Use at least 1,000 trials. Round your answer to two decimal places.)<br>average<br>variance<br>What is a 95% confidence interval (in $) around this average? (Round your answers to two decimal places.)<br>to $<br>(b) Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability that the profit per unit will be less than $5. (Use at<br>least 1,000 trials. Round your answer to three decimal places.)<br>What is a 95% confidence interval around this proportion? (Round your answers to three decimal places.)<br>to<br>

Extracted text: The management of Brinkley Corporation is Interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows. Labor Probability Cost ($) Procurement Probability Transportation Cost ($) Probability Cost ($) 10 0.25 20 0.15 3 0.75 11 0.40 22 0.20 0.25 12 0.35 24 0.35 25 0.30 (a) Construct a simulation model to estimate the average profit (in $) per unit and the variance of the profit per unit. (Use at least 1,000 trials. Round your answer to two decimal places.) average variance What is a 95% confidence interval (in $) around this average? (Round your answers to two decimal places.) to $ (b) Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability that the profit per unit will be less than $5. (Use at least 1,000 trials. Round your answer to three decimal places.) What is a 95% confidence interval around this proportion? (Round your answers to three decimal places.) to

Jun 02, 2022
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