Part 1
Read“EbonyBathSoap.docx”, and then complete the following items.
- For Questions 1 and 2 of the case, use the Palisade DecisionTools Excel software to set up a simulation model and run a simulation with 500 trials for the case. Ensure that all Palisade software output is included in your files and that only one Excel file is open when running a simulation. Use the “Template” file as a starting point. Hint: The RiskSimtable function was be helpful for running the simulations.
- Respond to Question 3 as written in the problem. Ignore the confidence interval portion of the question.
- Respond to Question 4 as written in the problem.
Part 2
In a 500-750-word summary to company management, address the following. Include relevant charts and graphs within your summary, as needed.
- Describe the case specific business requirements and how they can be communicated across all levels of the organization.
- Based on the simulation results, discuss the Annual Cost output statistical distributions. Assume that your audience as minimal background in statistics.
- Discuss which Annual Cost output probability distribution has the most dispersion, and explain why this is so.
- Explain the descriptive, predictive, and prescriptive analytics that have been used to formulate the solutions to the business needs.
- Based on the Annual Cost output statistical distributions and other information gleaned from your analysis, discuss the specific prescribed course of action you would recommend to company management and justify your recommendations. Include discussion of how the proposed analytics solutions can optimize organizational performance and effectiveness.
You are required to submit this assignment to Turnitin.
