Exhibit 12.5 The Following Questions Use the Information Below

question 16

Multiple Choice

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.
-The memoryless property is also referred to as the ____ property.

• A) Markov
• B) Erlang
• C) Poisson
• D) Normal

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Definitions:

Forensic Accounting

Forensic accounting is the specialization in accounting that focuses on investigating financial crimes and disputes, often involving legal matters, and preparing reports that can be used in court proceedings.

Financial Documents

Papers that contain important financial information, used for analysis, decision-making, or evidence.