MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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A solar panel store manager suspects that his inventory levels of solar panels have been higher
than necessary. Based on the record of the number of solar panels held in inventory each day
during the last sixty days, the manager came up with the following distribution.
# of Solar Panels Frequency
15
15
16
14
17
10
18
19
20
The demand for the solar panels follows a normal distribution with u=17 and 6=2. Based on this
information,
1. Develop a Monte Carlo Simulation model on MS Excel of this situation (send me a copy of
tie model.)
2. Based on one thousand iterations, should the manager change the inventory policy for the
solar panels? (answer in the available space below.)
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Transcribed Image Text:A solar panel store manager suspects that his inventory levels of solar panels have been higher than necessary. Based on the record of the number of solar panels held in inventory each day during the last sixty days, the manager came up with the following distribution. # of Solar Panels Frequency 15 15 16 14 17 10 18 19 20 The demand for the solar panels follows a normal distribution with u=17 and 6=2. Based on this information, 1. Develop a Monte Carlo Simulation model on MS Excel of this situation (send me a copy of tie model.) 2. Based on one thousand iterations, should the manager change the inventory policy for the solar panels? (answer in the available space below.)
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