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Simulate the effect of the Price change if it will follow the following pattern for Type...

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Basic Math

Simulate the effect of the Price change if it will follow thefollowing pattern for Type A. (build the 95% confidence interval)Type A (Price (million Dollar) =1.25 (20% probability); Price(million Dollar) =2.25 (40 % probability); Price (million Dollar)=3 (25 % probability); Price (million Dollar) =3.5 (15 %probability))

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Solution NOTE Question does not specify the number of simulation runs As an arbitrary measure 50 runs are made just to demonstrate the process and interpretation of results for further inferences 1 Backup Theory 1001 Confidence Interval for when is not known is Xbar tn 1 2sn 2where Xbar sample mean tn 1 2 upper 2 point of tdistribution with n 1 degrees of freedom s sample    See Answer
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