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Answer to Question #44590 in Math for sunain
Question #44590
Estimates of the financial information for a new product show the following information:
Units Sold Probability Fixed cost Rs. 8,000
600 .35 Variable cost Rs. 6 / unit
800 .45 Revenue Rs. 22 / unit
1000 .20
Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial?
Units Sold Probability Fixed cost Rs. 8,000
600 .35 Variable cost Rs. 6 / unit
800 .45 Revenue Rs. 22 / unit
1000 .20
Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial?
Expert's answer
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