Susan is a ticket scalper. She buys tickets for Los Angeles Lakers games before the beginning of the season for
(a) Suppose that Susan buys 14 tickets for each game. Use ASPE to perform 1,000 trials of a simulation on a spreadsheet. What will be Susan’s mean profit from selling the tickets? What is the probability that Susan will make at least $0 profit?
(b) Generate a parameter analysis report to consider all nine possible quantities of tickets to purchase between 10 and 18. Which purchase quantity maximizes Susan’s mean profit?
(c) Generate a trend chart for the nine purchase quantities considered in part b.
(d) Use ASPE’s Solver to search for the purchase quantity that maximizes Susan’s mean profit.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Question Posted: September 22, 2015 14:25:19