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

question 33

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 mean absolute deviation obtained from the simulation results?

• A)3
• B)6
• C)8
• D)10

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Definitions:

Antibiotics

Medications used to prevent and treat bacterial infections by either killing bacteria or inhibiting their growth.

Mucus-Thinning Drugs

Medications designed to reduce the viscosity of mucus, helping to alleviate congestion in the respiratory tract.

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Paired bands of muscle tissue located in the larynx (voice box) that vibrate to produce sound when air is expelled from the lungs.

Epiglottis

A leaf-shaped flap in the throat that prevents food and drink from entering the windpipe during swallowing.