Assignemnt
Note: Complete 12 trials using the random numbers that are provided on the "Simulation Template" for each probability distribution. Use the random numbers in the exact sequence that they appear on the template for each cost.
A. Complete the attached "QAT1 Task 1 Spreadsheet" (responses should include two decimal places) by doing the following:
1. Determine required unit costs correctly by doing the following:
a. Determine the average materials cost per unit.
b. Determine the average labor cost per unit.
c. Determine the average utilities cost per unit.
d. Determine the average total cost per unit.
2. Include the three random interval tables needed to correctly determine the costs from part A1.
a. Describe how you correctly used the random interval tables from part A2 to populate the "QAT1 Task 1 Spreadsheet."
B. Determine the selling price per unit that should be established for the new product using your simulation results.
1. Describe how you arrived at the selling price from part B.
Attachment:- qat1_task_1_spreadsheet.xls