Answer to Question #84340 in Financial Math for Ra

Question

A bakery keeps a stock of a popular brand of bread. Previous experience indicates the daily demand as given below:
Daily demand Probability
0 0.01
10 0.20
20 0.15
30 0.50
40 0.12
50 0.02 Consider the following sequence of random numbes: 48, 78, 19, 51, 56, 77, 15, 14, 68, 09 Using this sequence, simulate the demand for the next 10 days.

Answer 1

Dear Ra, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order