Exhibit 12.5 The Following Questions Use the Information Below

question 37

Essay

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.
-A machine produces an average of 500 parts per day with a standard deviation of 10 parts. This is a normally distributed variable. The percent of defective parts ranges from 8-12%. Parts which need minor repair comprise 75% of the defective parts and cost $5 to repair. The rest of the defective parts cost $20 to repair. What formulas should go in cells B8:B15 to compute the daily cost of defective parts? Instructions: Answer the following questions using the Analytic Solver Platform Excel add-in.

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Definitions:

Area V2

A part of the visual cortex that processes visual information, playing a key role in the perception of visual depth, texture, and color.

Single Unit Recordings

The measurement of the electrical activity from individual neurons, often used to understand neural function and behavior.

V4

A region in the visual cortex involved in processing color perception and visual attention in the human brain.

Corpus Callosum

The corpus callosum is a thick band of nerve fibers that divides the cerebrum into left and right hemispheres, facilitating communication between the two sides of the brain.