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Answer to Question #84340 in Financial Math for Ra
Question #84340
A bakery keeps a stock of a popular brand of bread. Previous experience indicates the daily demand as given below:
Daily demand Probability
0 0.01
10 0.20
20 0.15
30 0.50
40 0.12
50 0.02 Consider the following sequence of random numbes: 48, 78, 19, 51, 56, 77, 15, 14, 68, 09 Using this sequence, simulate the demand for the next 10 days.
Daily demand Probability
0 0.01
10 0.20
20 0.15
30 0.50
40 0.12
50 0.02 Consider the following sequence of random numbes: 48, 78, 19, 51, 56, 77, 15, 14, 68, 09 Using this sequence, simulate the demand for the next 10 days.
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