Project #7820 - Quantitative Analysis

 

Task:

 

A. Complete the attached “Simulation Template” by doing the following:

 

1. Determine the following costs:

 

a. Average materials cost per unit

 

b. Average labor cost per unit

 

c. Average utilities cost per unit

 

d. Average total cost per unit

 

2. Show your random interval tables you used to determine the costs in parts A1a–A1d.

 

a. Explain how you used the random interval tables from part A2 to populate the Simulation Template.

 


Note: Macros must be enabled to open and use the Simulation Template spreadsheet.

 

Note: Run 12 trials using the random numbers that are provided on the “Simulation Template” for each probability distribution. Use the random numbers in the exact sequence that they appear on the template for each cost.


 

B. Determine the selling price per unit that should be established for this product using your simulation results

 

1. Explain how you arrived at the selling price from part B.

 

 

 

Note: For your calculations in parts B and B1, assume that the company wants to realize an average markup of $20 on each unit sold.

 

Please note that A1. a-d would be completed on the template - A2, A2a and B1 must be submitted as written explination of the work based on the data on the template

 

 

 

 

 

Subject Mathematics
Due By (Pacific Time) 06/16/2013 12:00 pm
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