(All answers were generated using 1,000 trials and native Excel functionality.) Grear will refund a...
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(All answers were generated using 1,000 trials and native Excel functionality.) Grear will refund a customer $1 per 100 miles short of 27,000 . Construct a simulation model to answer the following questions. Download spreadsheet grear-ab6cc7.xlsx a. For each tire sold, what is the average cost of the promotion? Round your answer to the nearest cent. $ per tire b. What is the probability that Grear will refund more than $25 for a tire? Round your answer to one decimal percentage place. %
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