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

question 28

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 probability that more than 300 tickets will be sold?

• A)approximately 0.75
• B)approximately 0.40
• C)approximately 0.60
• D)approximately 0.50

---

Definitions:

Interest Owed

The amount of money that is due as interest on a loan or debt.

Repayment Date

The specific date on which a borrower agrees to pay back the principal and/or interest on a loan.

Employees

Individuals hired by a company or organization to perform specific duties in exchange for compensation.

Cut

To reduce or decrease the size, amount, or number of something.