Question

In: Statistics and Probability

**SHOW ALL WORK IN EXCEL QM** Problem-5: In the previous problem suppose the sale of football...

**SHOW ALL WORK IN EXCEL QM**

Problem-5:

In the previous problem suppose the sale of football programs described by the probability distribution only applies to days when the weather is good. When poor weather occurs on the day of a football game, the crowd that attends the game is only half of capacity. When this occurs, the sales of programs decreases, and the total sales are given in the following table:

Number (in 100s) of Programs Sold

Probability

12

0.25

13

0.24

14

0.19

15

0.17

16

0.15

Programs must be printed two days prior to game day. The university is trying to establish a policy for determining the number of programs to print based on the weather forecast.

  1. If the forecast is for a 20% chance of bad weather, simulate the weather for ten games with this forecast.
  2. Simulate the demand for programs at 10 games in which the weather is bad.
  3. Beginning with a 20% chance of bad weather and an 80% chance of good weather, develop a flowchart that would be used to prepare a simulation of the demand for football programs for 10 games.
  4. Suppose there is a 20% chance of bad weather, and the university has decided to print 2,500 programs. Simulate the total profits that would be achieved for 10 football games.

Solutions

Expert Solution

Answer:-

Given That:-

The university is trying to establish a policy for determining the number of programs to print based on the weather forecast.

(a)

If the forecast is for a 20% chance of bad weather, simulate the weather for ten games with this forecast.

(b)

Simulate the demand for programs at 10 games in which the weather is bad.

(c)

Beginning with a 20% chance of bad weather and an 80% chance of good weather, develop a flowchart that would be used to prepare a simulation of the demand for football programs for 10 games

(d)

Suppose there is a 20% chance of bad weather, and the university has decided to print 2,500 programs. Simulate the total profits that would be achieved for 10 football games.

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