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Grand Canyon ECN601 Module 8 simulation

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Question;problem 4-19Every home football game for the past eight years at Eastern;State University has been sold out. The revenues;from ticket sales are significant, but the sale of;food, beverages, and souvenirs has contributed greatly;to the overall profitability of the football;program. One particular souvenir is the football program for each;game. The number of programs sold at each game is;described by the following probability distribution;(A);NUMBER;(IN 100s) OF;PROGRAMS SOLD;PROBABILITY;CUMULATIVE PROBABILITY;INTERVAL RANDOM NUMBERS;DAY;RANDOM;NUMBER;SIMULATED;DEMAND;23;0.15;0.15;1-15;1;7;23;24;0.22;0.37;16-37;2;60;25;25;0.24;0.61;38-61;3;77;26;26;0.21;0.82;62-82;4;49;25;27;0.18;1.00;83-100;5;76;26;6;95;27;Historically, Eastern has never sold fewer than 2,300;7;51;25;programs or more than 2,700 programs at one game.;8;16;24;Each program costs $0.80 to produce and sells for;9;14;23;$2.00. Any programs that are not sold are donated to;10;85;27;a recycling center and do not produce any revenue.;Average;25.1;(a) Simulate the sales of programs at 10 football;games. Use the last;column in the random number;table (Table 14.4);and begin at the top of the;column.;(b) If the university decided to print 2,500 programs;for each game, what;would the average profits be;for the 10 games;simulated in part (a)?;(c) If the university decided to print 2,600 programs;for each game, what;would the average profits be;for the 10 games;simulated in part (a)?;Problem 14-25;Stephanie Robbins is the Three Hills Power;Company management analyst assigned to simulate maintenance costs. In Section;14.6 we describe the simulation of 15 generator breakdowns and the repair times;required when one repairperson is on duty per shift. The total simulated;maintenance cost of the current system is $4,320.;Robbins;would now like to examine the relative cost-effectiveness of adding one more;worker per shift. The new repairperson would be paid $30 per hour, the same;rate as the first is paid. The cost per breakdown hour is still $75. Robbins;makes one vital assumption as she begins-that repair times with two workers;will be exactly one-half the times required with only one repairperson on duty;per shift. Table 14.13 can then be restated as follows;REPAIR;TIME REQUIRED (HOURS) PROBABILITY;0.5;??????????????? 0.28;1;??????????????? 0.52;1.5;?????????????? 0.20;1.00;(a);Simulate this proposed maintenance system change over a 15-generator breakdown;period. Select the random numbers needed for time between breakdowns from the;second-from-the-bottom row of Table 14.4 (beginning with the digits 69). Select;random numbers for generator repair times from the last row of the table;(beginning with 37).;(b);Should Three Hills add a second repairperson eachshift?

 

Paper#62056 | Written in 18-Jul-2015

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