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Exhibit 12

question 18

Short Answer

Exhibit 12.5
The following questions use the information below.
The owner of Sal's Italian Restaurant wants to study the growth of his business using simulation. He is interested in simulating the number of customers and the amount ordered by customers each month. He currently serves 1000 customers per month and feels this can vary uniformly between a decrease of as much as 5% and an increase of up to 9%. The bill for each customer is a normally distributed random variable with a mean of $20 and a standard deviation of $5. The average order has been increasing steadily over the years and the owner expects the mean order will increase by 2% per month. You have created the following spreadsheet to simulate the problem.
$Exhibit 12.5 The following questions use the information below. The owner of Sal's Italian Restaurant wants to study the growth of his business using simulation. He is interested in simulating the number of customers and the amount ordered by customers each month. He currently serves 1000 customers per month and feels this can vary uniformly between a decrease of as much as 5% and an increase of up to 9%. The bill for each customer is a normally distributed random variable with a mean of $20 and a standard deviation of $5. The average order has been increasing steadily over the years and the owner expects the mean order will increase by 2% per month. You have created the following spreadsheet to simulate the problem. -The spreadsheet model for Sal, from Exhibit 12.5, has been run 300 times to produce the following output. What is the best case scenario for Sal based on this output? \begin{array}{|l|l|} \hline{\text { Simulation } \text { Statistics }} \\ \hline \text { Name } & \text { Income/Revenue } \\ \hline \text { Description } & \text { Output } \\ \hline \text { Cell } & \text { D21 } \\ \hline \text { Minimum= } & 211786.92 \\ \hline \text { Maximum= } & 435002.74 \\ \hline \text { Mean= } & 4119518.91 \\ \hline \text { Std Deviation= } & 33831.44 \\ \hline \end{array}$ $Exhibit 12.5 The following questions use the information below. The owner of Sal's Italian Restaurant wants to study the growth of his business using simulation. He is interested in simulating the number of customers and the amount ordered by customers each month. He currently serves 1000 customers per month and feels this can vary uniformly between a decrease of as much as 5% and an increase of up to 9%. The bill for each customer is a normally distributed random variable with a mean of $20 and a standard deviation of $5. The average order has been increasing steadily over the years and the owner expects the mean order will increase by 2% per month. You have created the following spreadsheet to simulate the problem. -The spreadsheet model for Sal, from Exhibit 12.5, has been run 300 times to produce the following output. What is the best case scenario for Sal based on this output? \begin{array}{|l|l|} \hline{\text { Simulation } \text { Statistics }} \\ \hline \text { Name } & \text { Income/Revenue } \\ \hline \text { Description } & \text { Output } \\ \hline \text { Cell } & \text { D21 } \\ \hline \text { Minimum= } & 211786.92 \\ \hline \text { Maximum= } & 435002.74 \\ \hline \text { Mean= } & 4119518.91 \\ \hline \text { Std Deviation= } & 33831.44 \\ \hline \end{array}$
-The spreadsheet model for Sal, from Exhibit 12.5, has been run 300 times to produce the following output. What is the best case scenario for Sal based on this output?
$\begin{array}{|l|l|}\hline{\text { Simulation } \text { Statistics }} \\\hline \text { Name } & \text { Income/Revenue } \\\hline \text { Description } & \text { Output } \\\hline \text { Cell } & \text { D21 } \\\hline \text { Minimum= } & 211786.92 \\\hline \text { Maximum= } & 435002.74 \\\hline \text { Mean= } & 4119518.91 \\\hline \text { Std Deviation= } & 33831.44 \\\hline\end{array}$

Definitions:

Consciousness

The state of being aware of and responsive to one's surroundings; a person's subjective experience of the world and mind.

Behaviourist

A psychologist who studies and interprets behavior as a function of environmental histories of reinforcing consequences.

Gestalt Psychologist

A psychologist specializing in the study of perception and learning, emphasizing the idea that the whole is more than the sum of its parts.

Structuralist

An approach in various academic disciplines that analyzes elements of human culture, psychology, or society in terms of their relationship to a larger, overarching system or structure.