I am trying to run a monte carlo simulation and I just wanted to make sure that I set it up properly.
A salesman visits 100 different homes. Someone answers the door 80% of the time. Of that percentage, 65% of the time it's a female. 30% of females make a purchase and the value of their purchase is normally distributed with a mean of 22 dollars and standard deviation of 5. 20% of males make a purchase and the value of their purchase is normally distributed with a mean of 28 dollars and standard deviation of 3.
Have I set up the problem correctly? I just want to make sure because the software that I'm using has limitations and I can only run it with a certain amount of uncertain variables, of which I have too many right now.