The manager of Moores Catalog Showroom is trying to predict how much revenue will be generated by

The manager of Moore’s Catalog Showroom is trying to predict how much revenue will be generated by each major department in the store during 2006. The manager has estimated the minimum and maximum growth rates possible for revenues in each department. The manager believes that any of the possible growth rates between the minimum and maximum values are equally likely to occur. These estimates are summarized in the following table:

Create a spreadsheet to simulate the total revenues that could occur in the coming year. Run 5000 replications of the model and do the following:
a. Construct a 95% confidence interval for the average level of revenues that the manager could expect for 2006.
b. According to your model, what are the chances that total revenues in 2006 will be more than 5% larger than those in2005?

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Growth Rates Department Electronics Garden Supplies Jewelry Sporting Goods Toys Minimumm Maximum 10% 5% 6% 8% 15% 2003 ReVenues $6,342,213 $1,203,231 $4,367,342 $3,543,532 $4,342,132 2% -4% -2% 4%