General Manufacturing Corp

%age employees
40
40
20

Min
Max

Type of Claim
N
S
L

Lower Limit
0
0.4
0.8

Small Claims Uniform Distribution

$0.00
$2,000.00

Min
Max

Large Claims Uniform Distribution

$2,000.00
$20,000.00

Case a)
Random Number Type of Claim Filed
0.4071
Small
0.5228
Small
0.8185
Large
0.5802
Small
0.0193
No

Random Number Type of Claim Filed

0.9823
Large
0.0188
No
0.8771
Large
0.9872
Large
0.4129
Small

Amount Filed
19681.4
0
17787.8
19769.6
825.8

Random Number Type of Claim Filed

0.8671
Large
0.3164
No
0.8311
Large
0.5895
Small
0.5020
Small
0.2731
No
0.0479
No
0.0104
No
0.7532
Small
0.6488
Small
0.6849
Small
0.8709
Large
0.9064
Large
0.2381
No
0.4386
Small

Amount Filed
17607.05661
0
16959.19031
1178.913439
1003.980443
0
0
0
1506.433475
1297.664275
1369.867857
17676.94611
18314.81411
0
877.1824721

Average Claim Filed

Case b)
Trials
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Average Claim Filed

Note: The Random Numbers since keep ch

16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

0.8503
0.4272
0.9736
0.0345
0.5560
0.0505
0.5340
0.0409
0.6968
0.1242
0.4954
0.6948
0.2029
0.4606
0.2517
0.1559
0.7954
0.0698
0.0536
0.4672
0.4271
0.8692
0.9135
0.4632
0.9221
0.6649
0.4960
0.4231
0.3572
0.0102
0.2737
0.0770
0.6100
0.6245
0.2921
0.2842
0.2326
0.1884
0.6027
0.1862
0.6104
0.4352
0.0887
0.4547
0.3815
0.3214
0.3380

Large
Small
Large
No
Small
No
Small
No
Small
No
Small
Small
No
Small
No
No
Small
No
No
Small
Small
Large
Large
Small
Large
Small
Small
Small
No
No
No
No
Small
Small
No
No
No
No
Small
No
Small
Small
No
Small
No
No
No

17304.8449
854.474589
19524.01105
0
1111.91327
0
1067.95857
0
1393.500266
0
990.7228853
1389.550346
0
921.209501
0
0
1590.778501
0
0
934.4609375
854.245035
17646.14436
18442.20582
926.3574284
18597.34406
1329.878572
991.9038271
846.1417448
0
0
0
0
1220.052916
1249.021933
0
0
0
0
1205.431717
0
1220.751197
870.4616534
0
909.3917075
0
0
0

63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109

0.9201
0.0543
0.8225
0.9314
0.7248
0.4015
0.1591
0.5641
0.3943
0.7631
0.6339
0.9627
0.5634
0.0352
0.1464
0.5921
0.0876
0.1018
0.9508
0.9300
0.7925
0.0220
0.0118
0.8173
0.1865
0.4214
0.5061
0.4121
0.8092
0.1377
0.4190
0.4775
0.0966
0.1098
0.8840
0.2004
0.6553
0.5241
0.7540
0.4721
0.0900
0.4175
0.6049
0.3678
0.1339
0.1531
0.4016

Large
No
Large
Large
Small
Small
No
Small
No
Small
Small
Large
Small
No
No
Small
No
No
Large
Large
Small
No
No
Large
No
Small
Small
Small
Large
No
Small
Small
No
No
Large
No
Small
Small
Small
Small
No
Small
Small
No
No
No
Small

18561.26071
0
16804.68162
18766.06674
1449.546666
803.0112377
0
1128.150099
0
1526.242381
1267.79923
19328.69287
1126.863314
0
0
1184.150297
0
0
19114.34561
18740.67318
1584.910382
0
0
16712.27918
0
842.7081409
1012.260705
824.1624205
16565.82732
0
838.0099512
955.0449562
0
0
17911.92972
0
1310.564656
1048.155238
1507.96245
944.2156072
0
835.0301646
1209.873434
0
0
0
803.2283576

110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156

0.6518
0.9967
0.0889
0.6066
0.1768
0.1241
0.6489
0.9707
0.5879
0.6361
0.7003
0.0457
0.3431
0.3245
0.2403
0.3865
0.6128
0.7155
0.6272
0.3370
0.3838
0.4195
0.0893
0.4773
0.5533
0.9819
0.7013
0.6892
0.6873
0.8630
0.4870
0.2021
0.0783
0.3121
0.5282
0.2287
0.2344
0.7866
0.6046
0.6381
0.4137
0.9447
0.0130
0.6790
0.0475
0.4913
0.1716

Small
Large
No
Small
No
No
Small
Large
Small
Small
Small
No
No
No
No
No
Small
Small
Small
No
No
Small
No
Small
Small
Large
Small
Small
Small
Large
Small
No
No
No
Small
No
No
Small
Small
Small
Small
Large
No
Small
No
Small
No

1303.616278
19941.16174
0
1213.169513
0
0
1297.751611
19471.92226
1175.853684
1272.132926
1400.643102
0
0
0
0
0
1225.667551
1430.940364
1254.457891
0
0
838.9023318
0
954.5272723
1106.587283
19673.54535
1402.596724
1378.371904
1374.63558
17534.04438
974.0777019
0
0
0
1056.349619
0
0
1573.181091
1209.169838
1276.141957
827.4092878
19004.74234
0
1358.056716
0
982.6325876
0

157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203

0.3797
0.5350
0.6570
0.1834
0.1198
0.1447
0.4155
0.7631
0.9264
0.9167
0.0656
0.6126
0.1650
0.4143
0.4351
0.3289
0.8250
0.9204
0.9962
0.4393
0.9128
0.6970
0.5145
0.6535
0.4609
0.5271
0.4542
0.3740
0.6663
0.5817
0.7682
0.3245
0.4374
0.6511
0.5328
0.6022
0.2006
0.4577
0.6988
0.6878
0.1219
0.6469
0.5715
0.5442
0.7714
0.0828
0.2050

No
Small
Small
No
No
No
Small
Small
Large
Large
No
Small
No
Small
Small
No
Large
Large
Large
Small
Large
Small
Small
Small
Small
Small
Small
No
Small
Small
Small
No
Small
Small
Small
Small
No
Small
Small
Small
No
Small
Small
Small
Small
No
No

0
1069.978411
1314.041407
0
0
0
830.9101184
1526.291615
18675.66755
18501.34045
0
1225.274138
0
828.674401
870.2201712
0
16849.38237
18567.56832
19930.78899
878.5808996
18430.2012
1394.065202
1028.999489
1307.08145
921.702018
1054.246434
908.3483446
0
1332.610098
1163.443916
1536.358413
0
874.7306154
1302.123568
1065.627503
1204.447613
0
915.4904303
1397.690999
1375.670394
0
1293.742899
1142.926325
1088.326288
1542.732096
0
0

204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250

0.6488
0.7955
0.5982
0.1299
0.1511
0.2887
0.4100
0.9791
0.4849
0.1020
0.6295
0.0515
0.4306
0.7069
0.3319
0.5128
0.5891
0.3858
0.0741
0.3718
0.6393
0.6554
0.0224
0.5996
0.1889
0.7573
0.5206
0.2144
0.2671
0.9668
0.5376
0.7622
0.9118
0.4254
0.3508
0.4496
0.8086
0.1628
0.0522
0.7931
0.8825
0.1373
0.1290
0.3630
0.2527
0.1801
0.4294

Small
Small
Small
No
No
No
Small
Large
Small
No
Small
No
Small
Small
No
Small
Small
No
No
No
Small
Small
No
Small
No
Small
Small
No
No
Large
Small
Small
Large
Small
No
Small
Large
No
No
Small
Large
No
No
No
No
No
Small

1297.506114
1590.94841
1196.477806
0
0
0
820.0626793
19623.01327
969.824578
0
1258.901372
0
861.1347874
1413.857524
0
1025.64578
1178.179378
0
0
0
1278.644523
1310.793616
0
1199.288602
0
1514.655571
1041.154489
0
0
19402.45496
1075.273202
1524.363611
18411.60985
850.7582948
0
899.1275368
16553.94335
0
0
1586.129807
17885.86928
0
0
0
0
0
858.8580488

251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297

0.8077
0.1529
0.2723
0.3969
0.0806
0.7693
0.6809
0.0471
0.4170
0.5010
0.1834
0.5119
0.9539
0.3566
0.8383
0.1267
0.3550
0.7176
0.2284
0.7313
0.1366
0.1912
0.9829
0.1188
0.2430
0.5318
0.5077
0.1283
0.6912
0.7771
0.5036
0.0659
0.7725
0.5929
0.8414
0.4970
0.3082
0.0611
0.5718
0.2960
0.1679
0.5407
0.5202
0.2489
0.3981
0.2992
0.5874

Large
No
No
No
No
Small
Small
No
Small
Small
No
Small
Large
No
Large
No
No
Small
No
Small
No
No
Large
No
No
Small
Small
No
Small
Small
Small
No
Small
Small
Large
Small
No
No
Small
No
No
Small
Small
No
No
No
Small

16537.78996
0
0
0
0
1538.516887
1361.837446
0
833.9122158
1002.000795
0
1023.841674
19170.52918
0
17089.54209
0
0
1435.200253
0
1462.540893
0
0
19693.08203
0
0
1063.650228
1015.394941
0
1382.380382
1554.273843
1007.222741
0
1545.033274
1185.768385
17144.54661
993.994974
0
0
1143.52898
0
0
1081.459062
1040.441005
0
0
0
1174.88895

298
299
300

0.3935
0.4539
0.1581

No
Small
No

0
907.7337332
0

Upper Limit
0.4
0.8
1

Value
No
Small
Large

iform Distribution

$11,612.92

$2,909.24

andom Numbers since keep changing were created and then only their values were pasted

Case c)
True Mean
Average Claim Filed from Case a)
Average Claim Filed from Case b)

$2,600.00
$11,612.92
$2,909.24

The above analysis suggests that higher the trials for simulation closer is the output to the true mean.
This can be noted from the values of Average Claims filed in case a & b respectively, when we take 300 trials in case b the a

ake 300 trials in case b the average is closer to the true mean