Exhibit 12.5 The Following Questions Use the Information Below

question 22

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 is the probability that 3 or more phone calls are received in any hour of operation? Instructions: Answer the following questions using the Analytic Solver Platform Excel add-in.

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Definitions:

Brainstorming Sessions

Interactive meetings where participants generate creative ideas and solutions in a collaborative environment.

Project Manager

A professional responsible for planning, executing, and closing projects, overseeing the project team, timeline, resources, and deliverables.

High-performance Work Systems

A set of management practices designed to create an environment where employees can effectively utilize their skills and abilities to achieve high levels of performance.

Social System

An organized and interdependent set of roles, norms, and processes that people use to interact and cooperate within a society or a specific group.