Complete the following table in preparation for a Monte Carlo simulation. The expected demand is 3.52
Demand Probability Cumulative Probability Interval of Random Numbers
0 .1
2 11-23
3 .5
4
86-00
Demand Probability Cumulative Probability Interval of Random Numbers
0 .1 .1 01-10
2 .13 .23 11-23
3 .27 .5 24-50
4 .35 .85 51-85
7 .15 1 86-00
Students should have only moderate difficulty filling in the table, save for the demand column. To do this they must set up the equation for the expected demand and solve for the missing component.
.132. + .273 . + .354. + .15(X) = 3.52 so X = 7
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