Use the Table Below to Answer the Following Question(s)

question 43

Multiple Choice

Use the table below to answer the following question(s) .
The Atlas Movies Theater has repriced their ticket rates to maximize revenues.They have three classes of tickets: Classic, Silver, and Gold.The table below provides information on the average ticket sales, revenue and price elasticity on demand.They have a total seating capacity of 300.The table also provides the new price for the three classes obtained using Solver.

Assume the distributions of elasticities for three classes of tickets are uniform with minimum and maximum values equal to 75% and 125% of their estimated values, respectively.Under this assumption, use Monte Carlo simulation to answer the following questions.The model is simulated for 10,000 trials.
-What is the coefficient of variation obtained from the simulation results?

• A)0.086
• B)0.120
• C)0.014
• D)0.048

---

Definitions:

Sensation Seeking

A personality trait characterized by the search for experiences and feelings that are varied, novel, complex, and intense.

Middle School

An educational institution serving students typically between the ages of 11 and 14, bridging the transition from elementary school to high school.

Zuckerman

Refers to Marvin Zuckerman, an American psychologist known for his research on sensation seeking as a personality trait.

Sensation Seeking

A trait describing the tendency to seek out novel, varied, complex, and intense sensations and experiences, and the willingness to take risks for the sake of such experiences.