Question: 5. Susan is conducting a Monte Carlo simulation to finalize her implementation cost estimate.
Based on her past experience, she knows that:
20% of the times, she incurred $100,000 to implement a similar system
30% of the times, she incurred $140,000 to implement a similar system
40% of the times, she incurred $120,000 to implement a similar system
10% of the times, she incurred $90,000 to implement a similar system.
She generated the following random numbers: 41, 78, 91. What would be the corresponding costs for the random numbers generated?
TutorTeddy.com & Boston Predictive Analytics
[ Email your Statistics or Math problems to firstname.lastname@example.org (camera phone photos are OK) ]
Boston Office (Near MIT/Kendall 'T'):
Cambridge Innovation Center,
One Broadway, 14th Floor,
Cambridge, MA 02142,
Dallas Office (Near Galleria):
15950 Dallas Parkway,
Dallas, TX 75248,