Question: 5 . Simulate the decision situation described in Problem 1 8 ( a ) at the end of Chapter 1 2 for 2 0 weeks

5. Simulate the decision situation described in Problem 18(a) at the end of Chapter 12
for 20 weeks and recommend the best decision.
18. A concessions manager at the Tech versus A&M football game must decide
whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of
rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the
weather forecast in College Junction, where the game is to be held. The manager
estimates that the following profits will result from each decision, given each set of
weather conditions:
Use this string of random numbers in your model:
19,65,51,17,63,85,37,89,76,71,34,11,27,10,59,87,8,8,89,42
Create the bins by hand, but then use your Excel model to produce the values
necessary to answer the question. Answer the questions in this HW submission
with a simply worded description of the what the manager/decision maker
needs to know.
Create and use a fully formatted, professional Excel model and submit it in your

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!