Use the Year 3 results spreadsheet for your simulation number to complete this assignment.
Observe the averages and standard deviations for Profit, Revenues and Units Sold for Years 1 through 3.
Explain why these averages and standard deviations have changed from Year 1 to Year 2 and Year 2 to Year 3. Be as complete as you think you need to be in your explanations. For example, the following explanations, while maybe accurate, are not very ‘complete’.
Average profits went up from year 1 to year 2 because companies made more money.
The standard deviation in revenue from year 2 to year 3 decreased because the differences between the most and least amount of sales decreased.
To be more complete in the first answer, you would need to talk about why it was that all companies made more money.
To be more complete in the second answer, you would need to talk about why it was that the differences between the highest and lowest revenues narrowed.
A more complete answer may require you to calculate the averages and standard deviations for other sections in the spreadsheet. The competitiveness scores would be a good place to start.
This assignment is worth a minimum of 20 points and a maximum of 30 points, and is due next Thursday, April 30th.
Put your explanations in a Word document and email it to me.
