week 2 discussion questions 2

NursesHomeworkHelp.com prides itself on its team of specialized writers who possess comprehensive knowledge and experience in the field of nursing. These writers are selected through a rigorous vetting process, ensuring that they have the necessary qualifications and expertise in nursing. By engaging writers who understand the intricacies of the nursing profession, NursesHomeworkHelp ensures that students receive accurate and well-researched content that aligns with the unique requirements of the nursing discipline. This specialization sets NursesHomeworkHelp apart as a trusted source of academic support for nursing students.

1. Consider the following scenario and address the questions that follow.

Suppose your company wanted to determine the amount of sales of a new SUV model, called Lightning. The sales estimate would be based on the overall demand of various SUV model types. Overall demand is assumed to be normally distributed with a mean of 3 million units and standard deviation of 500,000 units. The share of demand that Lightning will take is assumed to be 4%. After running 1,000 simulated scenarios, a 95% confidence interval was constructed for the expected sales of Lightning units sold with limits of 93,048 and 146,964.

  1. If 1,000 new simulated scenarios were run, would you get the exact result? Explain why.
  2. Would the results be more stable if you ran 2,000 runs? Explain why.
  3. Is there a number of simulations that can be run so that the results do not change if you re-ran the simulations? Explain.

2. Reconsider the scenario presented in DQ 1 and address the questions that follow.

Suppose your company wanted to determine the amount of sales of a new SUV model, called Lightning. The sales estimate would be based on the overall demand of various SUV model types. Overall demand is assumed to be normally distributed with a mean of 3 million units and standard deviation of 500,000 units. The share of demand that Lightning will take is assumed to be 4%. After running 1,000 simulated scenarios, a 95% confidence interval was constructed for the expected sales of Lightning units sold with limits of 93,048 and 146,964.

  1. If a mean of 6 million units was used in the simulation, how would the confidence interval change? Explain.
  2. How would the confidence interval change if a standard deviation of 250,000 was used? Explain.

NursesHomeworkHelp.com places a strong emphasis on delivering high-quality work that meets and exceeds academic standards. The company is committed to upholding excellence in every aspect of their service. The writers at NursesHomeworkHelp conduct thorough research, ensuring that assignments are well-informed and grounded in evidence-based practice. Moreover, they adhere to academic conventions, including proper referencing and citation, to ensure the integrity and credibility of the work. By consistently maintaining high-quality standards, NursesHomeworkHelp enables nursing students to excel academically and develop the necessary skills for their future careers.

 
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.