Valentine s Day gift boxes that cost 10 75 and sell for 16
Last updated: 4/20/2023
Valentine s Day gift boxes that cost 10 75 and sell for 16 00 In the past at least 40 boxes have been sold by Valentine s Day but the actual amount is uncertain owner has often run short or made too many After the holiday any unsold boxes are discounted 50 and are eventually sold Set up and run a Monte Carlo simulation assuming that demand is triange nimum value 40 maximum value 50 and most likely value 47 Find the distribution of profit for order quantities between 40 and 50 to identify the best order quantity Use 20 simulation trials Click the icon to view a sample of 220 simulation trial results y the values of the selling price cost and discount price are entered in cells B6 B7 and B8 respectively and the demand purchase quantity quantity sold and surplus quantity are entered in cells B12 3 B15 and B16 respectively Then for the Monte Carlo simulation the quantity sold is BB the surplus quantity is and the profit is B B 15 B B16 BB13 B pe whole numbers Use ascending order Simulation Results 43 44 45 46 47 48 49 50 40 41 42 210 00 215 25 220 50 225 75 231 00 236 25 241 50 230 75 236 00 249 25 246 50 210 00 215 25 220 50 225 75 215 00 236 25 225 50 238 75 196 00 233 25 214 50 210 00 215 25 220 50 225 75 231 00 236 25 241 50 206 75 244 00 241 25 214 50 210 00 215 25 220 50 225 75 231 00 236 25 241 50 206 75 244 00 225 25 230 50 210 00 215 25 220 50 225 75 207 00 212 25 217 50 214 75 244 00 225 25 190 50 210 00 215 25 220 50 225 75 223 00 236 25 225 50 238 75 236 00 249 25 230 50 210 00 215 25 220 50 225 75 231 00 236 25 241 50 238 75 252 00 209 25 222 50 210 00 215 25 220 50 225 75 231 00 236 25 209 50 238 75 244 00 257 25 257 25 222 50 210 00 215 25 220 50 225 75 231 00 236 25 241 50 230 75 204 00 233 25 190 50 210 00 215 25 220 50 225 75 231 00 212 25 241 50 230 75 236 00 257 25 222 50 210 00 215 25 220 50 225 75 231 00 236 25 241 50 198 75 244 00 201 25 206 50 210 00 215 25 220 50 225 75 231 00 236 25 217 50 238 75 244 00 257 25 206 50 210 00 215 25 220 50 225 75 231 00 236 25 201 50 246 75 244 00 233 25 206 50 210 00 215 25 220 50 225 75 231 00 236 25 241 50 222 75 220 00 241 25 198 50 210 00 215 25 220 50 225 75 231 00 236 25 225 50 238 75 228 00 233 25 214 50 210 00 215 25 220 50 225 75 6034 00 hs 0000 or n X