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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.
-Joe's Copy Center has 10 copiers. They break down and require service quite often. Time between breakdowns follows an exponential distribution for each copier. The repair person services machines as quickly as possible, but the service time follows an exponential distribution. What type of system is it?
Environmental Performance Index
A quantitative measure that evaluates and ranks the environmental performance of a country's policies across a range of issues.
Individual Transferable Quotas
Regulatory tools that limit the volume of resources, such as fish, that an individual or company is authorized to catch or harvest.
Enforceable
Capable of being imposed or upheld by law or rule, ensuring compliance or obedience.
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