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Homework Set 2

Use @RISK to demonstrate the central limit theorem. Perform the demonstration using the normal distribution and then again using the log-normal distribution. Use sample sizes of 5, 10, 25, and 50 for calculating the sample means. Does the underlying distribution make a difference? Does the sample size make a difference? How?

Use @RISK to model a new product sales volume that grows at a trend line rate of 2 % per year for 10 years. Use each of the first four time series models discussed in my presentation. Choose your own standard deviations.

Updated: Saturday, March 19, 2011