You work for an airline that is considering a proposal to offer a new, nonstop fl ight between Atlanta and Tokyo. Senior management asks a team of analysts to run a Monte Carlo simulation of the...

You work for an airline that is considering a proposal to offer a new, nonstop fl ight between Atlanta and Tokyo. Senior management asks a team of analysts to run a Monte Carlo simulation of the project. Your job is to advise the group on what assumptions they should put in the simulation regarding the distribution of the ticket price your airline will be able to charge. How would you go about this task?