(Solution Library) Refer to the data in Solved Problem 15-1, which deals with Higgins Plumbing and Heating. Higgins has now collected 100 weeks of data
Question: Refer to the data in Solved Problem 15-1, which deals with Higgins Plumbing and Heating. Higgins has now collected 100 weeks of data and finds the following distribution for sales:
| Sales | Prob. |
| 3 | 2 |
| 4 | 9 |
| 5 | 10 |
| 6 | 15 |
| 7 | 25 |
| 8 | 12 |
| 9 | 12 |
| 10 | 10 |
| 11 | 5 |
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Re-simulate the number of stock outs incurred over a 20 -week period assuming Higgins maintains a constant supply of 8 heaters
bi Conduct this 20 -week simulation two more times and compare your answers with those in part a. Did they change significantly? Why or why not?
(c) That is the new expected number of sales per week?
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Solution: The downloadable solution consists of 6 pages
Deliverable: Word Document