Question: Q 5 B - The cheesecake shop problem: - The seller buys cakes for 3 3 SR each and sells for 5 0 SR each.
QB The cheesecake shop problem:
The seller buys cakes for SR each and sells for SR each.
The cakes not sold at the end of the day are sold as scrap for SR each.
Cheesecakes can be purchased in bundles of Thus the merchant can buy and so on You are required to simulate for a daily purchase of cakes ONLY.
There are three types of cake days, "good", "fair", and poor with probabilities of and
The demand distribution for each type of days is listed in the table.
Profit is calculated as profit revenue cost lost profit from excess demand salvage
Make a simulation Table to calculate daily profit
Run the simulation by hand for days given the following random digits for Type of day and for Demand.
EXTRA POINTS
Run the simulation for a month using excel
Use data tables to make runs to calculate mean profit of the month and CI
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