Question: Data Analytics and Modeling QUESTION 2 Victor works at Pier One. On the day after Thanksgiving, they are giving customers a choice of a free

Data Analytics and Modeling

Data Analytics and Modeling QUESTION 2 Victor works at Pier One. On

QUESTION 2 Victor works at Pier One. On the day after Thanksgiving, they are giving customers a choice of a free candle, ornament, or coffee cup. He is doing a Monte Carlo simulation to get a sense of how many he needs of each. He has researched and found two probability distributions on the number of customers arriving each hour and the gift they would choose. # of Customers Prob Gift Chosen Prob 20% Candle 30% 30% Ornament 30% 30% Coffee Cup 40% 20% Perform a simulation for the next 6 hours. How many customers choose a candle? (Use the following random #'s: 45 23 28 75 00 28 54 87 29 83 02 85 06 39 02 54 79 32 51 10 15 85 67 26 34)

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