Based on your understanding analyze using Monte Carlo Simulation.

16. Taxi rental Sam who was working as a taxi driver in a big company decides to start at Westport Sam his own business of running a taxi service with 1 car. 0 Sam drives the taxi himself. 0 Sam's rental operates one taxi between 9.AM to 7 PM. 0 Past records for taxi booking show that the call for booking taxi has the following distribution: Distribution of time between 2 calls Time in minutes 5 10 15 20 30 Probability 0.15 0.22 0.43 0.15 0.05 1- Once the call is received it takes any time between 1-5 minutes to pick a customer. 0 Once a customer is picked up the table below details: 0 the distribution of time to complete a service. 0 the average revenue for each trip. TIME AND REVENUE FOR A TRIP Time (Minutes) 10 15 20 30 45 Probability 0.12 0.35 0.45 0.06 0.02 Revenue S 8.00 S 15.00 S 20.00 S 25.00 5 35.00 Sam has sought your help to do the following: a) Simulate the operation of the taxi service with 1 taxi. b) What is your estimate of daily and monthly income? c) What is the customer waiting time? d) If he has 2 taxis what will be the impact on revenue and customer waiting time. Assume Sam has to pays 60 per day the driver of 2"'1 taxi. e) State any assumptions made