Construct a simulation model to estimate the average profit per unit. What is a 95% confidence interval around this average

The answer is not complete. But you can use a spreadsheet to construct a simulation model to estimate the average profit per unit of a set of data.

Step-by-step explanation:

To calculate the Expected value of profit, we use:

Selling price - Expected value of different costs

Selling price is Total Cost * Probability

Confidence Interval

A Confidence Interval is a range of values that someone can be sure the true value lies in.

To calculate the confidence interval, we use the formula x ± z * S/√n

Where S is the standard deviation

n is the number of observations

x is the mean

z is the chosen z value

45

step-by-step explanation:

to find a percentage, add a decimal in front and multiply it by the other number.

.25 times 180= 45

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step-by-step explanation: the reason for this is that it wastes other peoples time and also make them fail as well and that is never good.