Devry BIAM300 2022 March Week 8 Lab Latest

BIAM300 Managerial Applications of Business Analytics

Week 8 Lab  

Scenario: Your manager is very curious about what Monte Carlo analysis is and how it works. The manager has many questions about if Monte Carlo analysis will be beneficial going forward. What are the pros and cons, and is it effective? Use the information below to create a Monte Carlo analysis using Excel and report the results to your manager.

Software Used: MS Word and MS Excel on our personal computer or in the Azure virtual lab environment

Step 1: Use R-Practice 8.2.2 (OPTIONAL)

Add random walks and add screen print your code and results. Open a MS Word document and paste the screen print into your MS Word document.

Step 2: MS Excel Worksheet

Create a worksheet with the following information.

Starting in the upper right (A1) cell, set up the following model to calculate BMX-9000 gross profits.