Ask Question
22 April, 17:01

Develop a worksheet that can be used to simulate the bids made by the two competitors. Strassel is considering a bid of $120000 for the property. Using a simulation of 1000 trials, what is the estimate of the probability Strassel will be able to obtain the property using a bid of $120000? Round your answer to 1 decimal place. Enter your answer as a percent.

+3
Answers (1)
  1. 22 April, 19:42
    0
    20%

    Explanation:

    Simulation is imitation of a situation that represents its operations overtime. Simulation is used for performance tuning. The use of simulation in business is gaining significance. Simulation is used to analyze current situation and predict future. Strassel is using 1000 trials for a bid of $120,000. The estimated probability that Strassel will get the property at a bid of $120,000 is 20%.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Develop a worksheet that can be used to simulate the bids made by the two competitors. Strassel is considering a bid of $120000 for the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers