Discuss the below in detail:
Q: For the past 50 days, daily sales of laundry detergent in a large grocery store have been recorded (rounded to the nearest multiple of 10). See the table below.
Suppose that you wish to simulate the number of sales on a given day in the future, using this distribution. To do this, you used the RAND function in Excel, which on this run of the simulation gives you a value of 0.45. What is the corresponding realization of sales? (Follow the method shown in class and do not rearrange the order of the outcomes in the table when computing your answer).
Units Sold Number of times
30 8
40 12
50 15
60 10
70 5
The daily demand for gasoline at a local gas station is normally distributed with mean of 1200 gallons, and standard deviation of 350 gallons. If R is a random number between 0 and 1, then which of the following correctly models daily demand for gasoline?