Assignment:
Kard Shop
Hour No. Sales
9 60
10 70
11 47
Noon 53
1 80
2 70
3 50
4 60
Simulate the average hourly number of sales at the Kard Shop (Monte Carlo) for 50 hours. How does this number compare to the expected value? Show whether the value converges better if you sample for 1000 hours?
Provide complete and step by step solution for the question and show calculations and use formulas.