Asked by Jamie Flexer on Jul 02, 2024
Complete the following table in preparation for a Monte Carlo simulation.
Demand Probability Cumulative Probability Interval of Random Numbers 0.11.152.43.154.2\begin{array} { | c | c | c | c | } \hline \text { Demand } & \text { Probability } & \begin{array} { c } \text { Cumulative } \\\text { Probability }\end{array} & \begin{array} { c } \text { Interval of Random } \\\text { Numbers }\end{array} \\\hline 0 & .1 & & \\\hline 1 & .15 & & \\\hline 2 & .4 & & \\\hline 3 & .15 & & \\\hline 4 & .2 & & \\\hline\end{array} Demand 01234 Probability .1.15.4.15.2 Cumulative Probability Interval of Random Numbers
Cumulative Probability
The likelihood of an event happening up to a certain point, calculated by summing the probabilities of the event and all occurrences before it.
Interval of Random Numbers
A range within which random numbers can be generated, often used in simulations and probabilistic analyses.
- Master the construction of probability distributions, cumulative distributions, and intervals of random numbers.
Learning Objectives
- Master the construction of probability distributions, cumulative distributions, and intervals of random numbers.
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