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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.
-A barber shop has one barber, a Poisson arrival rate and exponentially distributed service times. What is the Kendall notation for this system?
Retirement Benefit Plan
A financial arrangement designed to provide individuals with an income or benefits upon retirement, often sponsored by employers or governments.
Due Diligence
An investigative process performed by investors or companies to assess the viability, risks, and opportunities of a prospective deal, investment, or partnership.
Venture Capitalist
An investor who provides capital to startups or small businesses with high growth potential in exchange for equity or partial ownership.
Promising Venture
An enterprise or venture that shows a lot of potential for success and growth due to its innovative approach or market position.
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