Exhibit 12.5
The following questions use the information below.
The owner of Sal's Italian Restaurant wants to study the growth of his business using simulation. He is interested in simulating the number of customers and the amount ordered by customers each month. He currently serves 1000 customers per month and feels this can vary uniformly between a decrease of as much as 5% and an increase of up to 9%. The bill for each customer is a normally distributed random variable with a mean of $20 and a standard deviation of $5. The average order has been increasing steadily over the years and the owner expects the mean order will increase by 2% per month. You have created the following spreadsheet to simulate the problem.
-Using the information in Exhibit 12.5 and the Analytic Solver Platform, what formulas should go in cells B8:D21 of the spreadsheet?
Instructions: Answer the following questions using the Analytic Solver Platform Excel add-in.

Question

Exhibit 12.5
The following questions use the information below.
The owner of Sal's Italian Restaurant wants to study the growth of his business using simulation. He is interested in simulating the number of customers and the amount ordered by customers each month. He currently serves 1000 customers per month and feels this can vary uniformly between a decrease of as much as 5% and an increase of up to 9%. The bill for each customer is a normally distributed random variable with a mean of $20 and a standard deviation of $5. The average order has been increasing steadily over the years and the owner expects the mean order will increase by 2% per month. You have created the following spreadsheet to simulate the problem.  
-Using the information in Exhibit 12.5 and the Analytic Solver Platform, what formulas should go in cells B8:D21 of the spreadsheet?
Instructions: Answer the following questions using the Analytic Solver Platform Excel add-in.

Quizplus · Accepted Answer

The Answer of Exhibit 12.5
The following questions use the information below.
The owner of Sal's Italian Restaurant wants to study the growth of his business using simulation. He is interested in simulating the number of customers and the amount ordered by customers each month. He currently serves 1000 customers per month and feels this can vary uniformly between a decrease of as much as 5% and an increase of up to 9%. The bill for each customer is a normally distributed random variable with a mean of $20 and a standard deviation of $5. The average order has been increasing steadily over the years and the owner expects the mean order will increase by 2% per month. You have created the following spreadsheet to simulate the problem.  
-Using the information in Exhibit 12.5 and the Analytic Solver Platform, what formulas should go in cells B8:D21 of the spreadsheet?
Instructions: Answer the following questions using the Analytic Solver Platform Excel add-in.

Exhibit 12.5 The Following Questions Use the Information Below