Provide a small example illustrating how random numbers are used in Monte Carlo simulation
What will be an ideal response?
For example, demand can be 0, 40% of the time, or 1, 60% of the time. The cumulative distribution is demand = 0, 0.40, and demand = 1, 1.00. The random number intervals are 01 through 40 for demand = 0, and 41 through 00 for demand = 1. A random number of 36 indicates demand = 0. Examples will vary.
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CJ's is a clothes retailer that grew from a single store into a chain over a few years
The key service characteristic during CJ's early years was a personalized customer relationship, and the company continues to collect information about its customers and maintain a database. Recently, however, CJ's has been losing customers to competitors as the expansion has made it difficult to personalize services. How can CJ's use its customer database to reactivate customer purchases?
A value chain consists of both tangible and intangible product and service offerings
Indicate whether the statement is true or false
Whether they like them or not, most U.S. automobile customers are familiar with and have an opinion about American-made cars. This familiarity makes it easier for consumers to
A. pursue generic alternatives. B. consider repositioning their opinions. C. negotiate discounts. D. meet their self-actualization needs. E. make purchase decisions.
A credit applicant's ________ reflects his or her record of meeting past obligations
A) condition B) capacity C) control D) character