Simulation using a multinomial logit distribution Electricity production in a country needs to be…


Simulation using a multinomial logit distribution Electricity formation in a empire needs to be expanded. The available resources are eventual gas, coal, and wreath essence. Formation costs of these sources are 5, 4, and 8 ct/kWh. a. Calculate the divide of each of the three sources in the exposition of the formation. Use a multinomial logit distribution delay a λ of 5. b. What contrariety does it form for the communicate divide of wreath essence if the appraisement drops from 8 to 6 ct/kWh?