Exhibit 12.5 The Following Questions Use the Information Below

question 34

Short Answer

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.
-What function should be used for generating random integer numbers between 2 and 8?

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Definitions:

Life Cycle

The series of stages that an organism, product, or system goes through from its inception to its termination or end.

Market Research

The process of gathering, analyzing, and interpreting information about a market, including potential customers and competitors.

Production Efficiencies

The maximization of output from a given set of inputs through optimal allocation of resources and processes in manufacturing or production.

GE Business Screen

A strategic planning tool similar to the BCG matrix, developed by General Electric, used for assessing the various business units or products in a company's portfolio.