Monte Carlo Simulation - Optimal Production Level

• Created a program simulation written in Python that will generate a recommendation given a set of parameters
• Parameters: unit price, retail price, cost of disposing, and number of units to manufacture

Function Objectives

• Specify if its normal (Gaussian) or uniform distribution
• Randomly generate demand instances
• Compute the profit for a given demand and store it in alist
• Compute mean and standard deviation of the profit
• Identify the optimal level of production

Screenshot of Graph Generated

Libraries Used

• Matplotlib
• NumPy