Objective improvements. Each student will work with unique parameters or scenarios, encouraging individual solutions.

Project Structure

Question $1$: Monte Carlo Simulation

Objective: Use Monte Carlo Simulation to model an uncertain scenario

General Criteria:

$1.$ Model Accuracy and Structure $(25$ points$)$:

$-$ Selecting an appropriate probability distribution for probabilistic inputs and explaining the choice.

$-$ Correctly generating random numbers and structuring systematic the simulation model in Excel.

$2.$ Result Analysis $(25$ points$)$:

$-$ Analyzing the simulation results, calculating key statistics, and interpreting the impact of input variables on the output.

$-$ Explaining results clearly and presenting recommendations.

Question $2$: Single$-$Server Queue $($DES$)$ Simulation

Objective: Using a single$-$server queue model, analyze customer flow and wait times in a service setting

General Criteria:

$1.$ Model Accuracy and Structure $(25$ points$)$:

$-$ Selecting a suitable distribution for arrival and service times with justification.

$-$ Structuring the single$-$server queue model accurately in Excel.

$-$ Generating random numbers and ensuring systematic operation of the model.

$2.$ Queue and Waiting Time Analysis $(\backslash (\backslash$mathbf$\{25\}\backslash )$ points$)$:

$-$ Correctly calculating each customer's wait time, service time, and total time spent in the system.

$-$ Analyzing system performance over the simulation duration.

$-$ Average waiting time in the queue

$-$ Average waiting time in the system

$-$ Utilization of the server $($the fraction of time the server remains busy$)$

$-$ Average number of clients in the system $($including the client being served$)$

$-$ Average queue length

Important Notes

$-$ Each student will work with different parameters or scenarios, so individual outcomes are expected.

$-$ Upload your EXCEL workbook. It is required for grading!!!

$-$ Your REPORTS should include a clear explanation of the models, assumptions, and analysis. Please keep them brief.