The Owner of Sal's Italian Restaurant Wants to Study the Growth

question 33

Essay

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.

-Using the information in Exhibit 12.5 and the Risk Solver Platform (RSP), what formulas should go in cells B8:D21 of the spreadsheet?

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Definitions:

Blocker

In a group or teamwork context, a blocker refers to a person who obstructs or hinders progress by opposing ideas or refusing to participate cooperatively.

Aggressor

A person or entity that initiates hostility or attack, whether physical or psychological, against others.

Dominator

An entity or individual that exercises control or exert supremacy over others in a commanding or dominating manner.