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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.
-What function should be used for generating random numbers from a normal distribution with mean μ and standard deviation σ between the values of a and b only?
Building Relationships
The process of developing and maintaining connections with individuals or groups, often based on mutual respect and cooperation.
Strategic Plan
A systematic process for defining a strategy or direction and making decisions on allocating resources to pursue this strategy.
Customer Problem
An issue or challenge faced by consumers that businesses aim to solve with their products or services, often driving innovation.
ThedaCare
A community health system or organization, often recognized for its innovative approaches to healthcare and patient treatment processes.
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