A server in a restaurant rates his chances at getting a tip from a customer as shown in the table.
Tip Chance$0....................20%
$1....................30%
$2....................40%
$5....................10%
a. Set up a simulation model that you could use to approximate the chance that the sum of the tips that the server receives from 8 customers (each tipping independently) is $15 or more. Your model should identify of each of the following: Simulation Component: Possible Outcomes: Simulation Assignment: Simulation Trial: Response Variable:
b. Set your calculator's random seed to 0 (0 STO MATH PRB 1: rand ENTER) and list the results for 20 trials.
c. What does the simulation in Part b) estimate as the chance that the server receives $15 or more from 8 customers?