Simulation models for all the following problems can be set up by using Excel. Wherever necessary, replications

Fantastic news! We've Found the answer you've been seeking!

Question:

Simulation models for all the following problems can be set up by using Excel.

Wherever necessary, replications can be done either using Data Table or using Crystal Ball.

In all problems, we have specified the number of replications to use simply as N. Your instructor may specify the actual value of N that he or she wants you to use. If not, we recommend that you try to replicate each simulation model as many times as is convenient. If you are using Data Table, 200 to 300 replications should be appropriate to keep the computation time reasonable and the resulting Excel file relatively small (even though the average values may vary from simulation to simulation). However, if you are using Crystal Ball, you should try 3,000 or more replications.

Wherever a decision is involved, you can use Scenario Manager in Excel and Decision Table or Opt Quest if you are using Crystal Ball. A high school guidance counselor has scheduled one-on-one meetings today with 10 seniors to discuss their college plans. Each meeting is scheduled for 20 minutes, with the first meeting set to start at 9:00 a.m. Due to their hectic class and extra-curricular schedules, not every student arrives on time, and not every meeting lasts exactly 20 minutes. The counselor knows the following from past experience: A student will be 10 minutes early 5% of the time, 5 minutes early 20% of the time, exactly on time 35% of the time, 5 minutes late 30% of the time, and 10 minutes late 10% of the time. The counselor further estimates that there is a 15% chance that a meeting will take only 15 minutes, 50% chance it will take exactly the planned time, 25% chance it will take 25 minutes, and 10% chance it will take 30 minutes. Students are seen in the order in which they have been scheduled, regardless of when they arrive. However, a student arriving early can see the counselor as soon as the previous meeting ends. Use N replications to determine when the counselor will complete the last meeting.