The company EL wishes to determine a policy for managing the number

Edmund Adams

Edmund Adams

Answered question

2021-11-29

The company ASKEL wishes to determine a policy for managing the number of defective products. A decisionmaker from ASKEL wants to simulate the daily defective products for a number of four days. Consider this probability distribution for the random variable X: ‘’the number of defective. Number of defective products Probability 20.230.440.2450.16 - Explain in detail the 5 steps of Monte Carlo simulation that the decision maker needs to follow. - Identify three advantages and three disadvantages of simulation.

Answer & Explanation

juniorekze

juniorekze

Beginner2021-11-30Added 18 answers

Step 1
Normally these things follow Poissons

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