@risk software question | Probability homework help

Must have @RISK Software with Excel. I need the excel sheets and the PDF/Word with answers to the questions below.

2) Cuban Investors buys real estate, develops it, and resells it for a profit. A new property is

available, and Mark Cuban, the president and owner of Cuban Investors, believes it can be

sold for $160,000. The current property owner asked for bids and stated that the property

will be sold for the highest bid in excess of $100,000. Two competitors will be submitting bids

for the property. Cuban does not know what the competitors will bid, but he assumes for

planning purposes that the amount bid by each competitor will be uniformly distributed

between $100,000 and $150,000. Cuban is considering submitting a bid of anywhere between

$120000 and $150000 (in increments of $5000) for the property. He has consulted you to

help him decide upon the “right” amount to bid for the property in order to maximize his

expected profit.

a. Let’s assume that Cuban decides to bid $120000. Build a simulation model

corresponding to the above scenario and run it for 5000 iterations to answer parts b,

c, and d.

b. Based on your simulation model what is the probability that Cuban will be able to

obtain the property with the bid of 120,000?

c. Please provide a 95% confidence interval on your probability estimate from part b.

d. What is the expected profit associated with the bid of $120,000?

e. Rerun your simulation model (5000 iterations each time) using bid amounts of

$125000, $130,000, $135,000, $140,000, $145,000 and $150,000. You can either run

each simulation separately or use risksimtable as discussed in the live session. Based

on these simulations which bid amount value would you recommend to Mark Cuban

in order to maximize his expected profit?

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages