Question: Every home football game for the past 8 years at Southwestern University has been sold out. The revenues from ticket sales are significant, but the
Every home football game for the past 8 years at Southwestern 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 probability distribution given in the following table.
12 Refer to the data in Solved Problem F.1, on page 801 , which deals with Higgins Plumbing and Heating. Higgins has now collected 100 weeks of data and finds the following distribution for sales:
a) Assuming that Higgins maintains a constant supply of 8 heaters, simulate the number of stockouts incurred over a 20-week period (using the seventh column of Table F.4 ).
b) Conduct this 20-week simulation two more times and compare your answers with those in (a). Did they change significantly?
Why or why not?
c) What is the new expected number of sales per week?
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