What is the estimate of the mean profit

Assignment Help Operation Management

Reference no: EM13224167

Create a worksheet similar to the inventory worksheet in Figure 16.10. Include columns showing demand, sales, revenue from sales, amount of surplus, revenue from sales of surplus, total cost, and net profit. Use your worksheet to simulate the sales of the Freddy doll using a production quantity of 60,000 units. Using 500 simulation trials, what is the estimate of the mean profit associated with the production quantity of 60,000 dolls?

Reference no: EM13224167

Questions Cloud

What does the future look like for hcit : What does the future look like for HCIT in terms of software development, education, research, and practices?

What are the various formes of dispute resolution : you are pleased with the service your law firm has given, but you know it has no international experience, what are the various formes of dispute resolution available to your company what are the advantages and the disadvantages of each for your c..

For what torts will driver likely be found liable : For what torts will Driver likely be found liable? Explain each, identifying the elements of the tort and how Driver's actions satisfy those elements.

What is volume of output that maximizes commodity profit : Its total cost of production is given by TC = 800 + 18 Q + 2 Q2, and thus its marginal cost is MC = 18 + 4 Q. The market price is currently P = $54. In the short run, what is the volume of output that maximizes Commodity Inc.'s profits.

What is the estimate of the mean profit : what is the estimate of the mean profit associated with the production quantity of 60,000 dolls?

Complete all of the steps of the accounting cycle : Complete all of the steps of the accounting cycle.

What are the advantages of emergent strategies : What are the advantages of emergent strategies? Are they particularly appropriate and effective in certain kinds of organizations? In certain kinds of environmental and competitive conditions? In tackling certain kinds of problems?

How do disruptive strategies impact middle managers : Is it sometimes appropriate - even necessary - to design strategies with the intention of disrupting organizations? Can implementing disruptive strategies constitute a strategy for organizational change? How do disruptive strategies impact middle ..

If firm uses strategy each customer buy how much units : A typical customer who buys from a firm has a demand given by P = 90 - 3 Q. The firm has a constant marginal cost MC = $18 and no fixed cost. It currently uses a uniform pricing strategy (i.e., it charges a single price for all the units it sells)..

User Account

All Pages