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This is a broad assignment regarding the module Business Analytics, which explai
This is a broad assignment regarding the module Business Analytics, which explains statistical methods. In the assignment there is two questions to be solved in excel and the excel sheet is to be shared to me (including calculations and I need edit access to submit the document via excel rather than pdf). Additionally a verbal report document must be made to describe the assignment detail. The first question must be solved using the Monte Carlo Simulation and the answer calculations must be put on excel and explained in the seperate. The first question is divided into two subparts and the monte carlo simulation model will be used to find the total estimated revenue.
The second Question regards finding the optimal solution using the excel solver and linear programing methods. I will attach my academic slides regarding optimization and how to solve this. Please follow the slides I attached regarding the lectures for the reports, and seminars for the guidance.
Question 1 (Monte Carlo Sımulation):
Find Descriptive Statistics for total revenue
Define minimum number of samples using the average plot formula
State additional assumptions and draw conclusions (max 700 words, must be written on the report)
Question 2(Linear Programing):
Write a mathemtaical model that finds best production when total production cost is minimized
Implement the following model using excel solver and find optimal solution
Instructions and details of the coursework is under the attached file. The academic slides and seminar notes are the relevant methods to be used, please follow these instead of external references. (Methods are monte carlo simulation and optimization)
NOTE: Please upload one Excel file with two spreadsheets for each quesKon and one report. Also,
please do not forget to aMach the submission sheet to your submission. (Excel is to be accesible for me). Please also dont share the excel sheet via pdf make it accesibble for me, and dont forget the writtne report.
Documents to Follow: Coursework rubric for the assignment Questions and details (is a must). Lecture slides for relevant concept definitions to go under the report. Seminar slides to see how the concepts can be applied on excel and the questions can be found.
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