Problem
Use your ES-M model to calculate the standard deviation of Profit for Order-Quantity values 600, 650, 700, 750, and 800. Compare those with the corresponding standard deviations using the extended Pearson-Tukey (EP-T) approximation and the standard deviations from the simulation model using the continuous beta distribution. (You will have to calculate the standard deviations from all three models.) How do the standard deviations from the ES-M model compare to those from the EP-T and simulation models? Repeat problem 11.11, but using the EP-T approximation with 781 as the 95th percentile instead of 780 as we did in the text. How much difference is there between the results using 780 versus 781?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.