Mathematics, 19.04.2021 15:30 ayoismeisjjjjuan

Model the variable cost as a uniform random variable with a minimum of $169 and a maximum of $249. Model the product demand as 1,000 times the value of a gamma random variable with an alpha parameter of 3 and a beta parameter of 2. Construct a simulation model to estimate the average profit and the probability that the project will result in a loss. (Use at least 1,000 trials.)

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