Describe a general procedure for generating normally distributed random numbers with a mean of 450 and standard deviation of 50 using Excel functions

What will be an ideal response?


Use the RAND() function to generate random numbers on the 0-1 interval. Using these numbers as the input, use the NORM.INV function to generate the inverse of the normal cumulative distribution with a specified mean and standard deviation. In a single cell in Excel, this could be accomplished by NORM.INV(RAND(),450,50).

Business

You might also like to view...

Under the direct method, which one of the following would represent cash paid?

a. Losses on sales of plant assets b. Gains on sales of plant assets c. Interest expense, adjusted for changes in interest payable and amortization of bond premium or discount d. Depreciation expense, adjusted for changes in depreciation methods

Business

Historical data used to predict the average or trend of actual demand are based on which of the following assumptions?

A. Past demand is not a reliable predictor of its future. B. Past demand is a reliable predictor of its future. C. Past demand is directly proportional to its future. D. Past demand is independent of its future.

Business

A person has taken an instrument ____________________ if he or she takes the instrument in payment of a prior debt

Fill in the blank(s) with correct word

Business

There is an overabundance of apartments in Atlanta. Post Properties, the owner of many of the metropolitan area's largest apartment complexes, has reduced its rent so it can fill vacant apartments. Which marketing mix element did Post Properties change to create more demand for its apartments?

A. production B. personnel C. distribution D. product E. price

Business