2. (10 points) Figure 7 below shows subsequent simulation runs. How many times
did the analyst run the simulation?
Figure 7
FIGURE 12.18 Statistical Analysis of Retirement Model Simulation Results
AA
AB
AC
AD
AE
AG
AH
Al
AK
AL
AM
AN
AO
1
2 Summary Statistics
3 Average
$3,587,194.56
4 Standard Deviation
$757,860.20
5 Minimum
$1,851,529.41
6 Maximum
$6,338,890.20
7
8 Frequency Distribution
9 Upper Cell Limit
Cumulative Frequency Frequency
200
10
$1,500,000
0
0
11
$2,000,000
3
3
12
$2,500,000
52
49
150
13
$3,000,000
235
183
14
$3,500,000
494
259
15
$4,000,000
730
236
300
16
$4,500,000
873
143
17
$5,000,000
955
82
18
$5,500,000
985
30
50
19
$6,000,000
998
13
20
$6,500,000
1000
2
21
$7,000,000
1000
0
$7,500,000
1000
23
$8,000,000
1000
24
$8,500,000
1000
$9,000,000
1000
0
Histogram
3. (10 points) What is the probability the client will have at least $5.5M at
retirement?