Question

Seating Zone	Seats Available	Ticket Price	Mean Demand	Standard Deviation
First Level Sideline	15000	$100.00	14500	750
Second Level	5000	$90.00	4750	500
First Level End Zone	10000	$80.00	9000	1250
Third Level Sideline	21000	$70.00	17000	2500
Third Level End Zone	14000	$60.00	8000	3000

Determine the distribution of total revenue using a data table. Use histogram to summarize results
3 Simulated Trials assume higher ticket prices

Answer 1

Solution-

For trials, formula =+NORMINV(RAND(),C$11,C$12) NORMINV(RAND(),mean,s.d)

rand() generates value b/w 0 and 1, say 0.36

Norminv for 1st level side line trial1 cell generates for e.g 36th percentile of a normal distr with mean 14500 and s.d 750

	Zone	1st Level sideline	Second level	First Level End Zone	Second Level End Zone	Third Level End Zone
	Seats	15,000	5,000	10,000	21,000	14,000
	Ticket Price	100	90	80	70	60
Mean trial	mean demand	14,500	4,750	9,000	17,000	8,000	4,267,500
	Std devn	750	500	1,250	2,500	3,000
Trial
1		14,140	5,137	8,194	15,668	7,132	4,056,513
2		15,316	4,624	9,155	20,138	9,788	4,677,161
3		12,568	3,693	8,378	17,463	6,711	3,884,436
4		14,138	5,387	7,009	18,252	6,048	4,099,855
5		15,275	5,380	7,804	16,718	15,654	4,745,550
6		14,749	4,755	7,117	12,144	8,284	3,819,344
7		14,369	4,540	8,461	17,724	10,591	4,398,508
8		13,658	5,119	9,359	14,907	8,680	4,139,434
9		14,204	5,503	8,046	14,157	6,493	3,939,869
10		13,963	5,047	8,899	18,976	9,830	4,480,617
11		14,291	5,511	9,502	18,654	5,618	4,328,091
12		14,358	5,224	6,372	18,148	5,206	3,998,415
13		13,721	5,490	10,315	17,585	4,364	4,184,207
14		14,107	5,314	9,638	15,621	14,173	4,603,837
15		14,171	5,419	9,597	13,661	4,264	3,884,684
16		15,717	3,775	9,987	13,784	8,919	4,210,394
17		14,033	4,774	9,837	17,725	12,526	4,612,318
18		15,328	4,931	9,225	18,690	5,257	4,338,282
19		14,711	4,005	8,571	18,827	9,596	4,410,872
20		14,611	5,320	8,875	18,585	10,535	4,582,906
21		14,272	5,698	9,748	20,218	12,154	4,864,409
22		15,574	4,415	11,735	15,204	8,436	4,463,979
23		14,921	5,335	10,215	20,103	7,106	4,623,037
24		14,873	4,906	6,942	21,584	5,797	4,342,796
25		15,126	4,280	10,736	16,262	9,991	4,494,473
26		13,966	5,050	10,098	21,143	5,551	4,472,013
27		13,290	5,173	7,601	20,189	5,479	4,144,689
28		14,771	5,138	9,339	16,316	6,309	4,207,312
29		14,387	5,290	7,551	18,854	9,578	4,413,364
30		14,139	3,823	7,562	14,529	8,180	3,870,811
31		15,269	4,317	11,205	14,843	14,750	4,735,748
32		12,872	5,254	10,185	15,609	10,580	4,302,286
33		14,160	4,249	9,006	15,785	5,797	3,971,624
34		12,708	5,943	8,122	20,530	10,074	4,497,003
35		14,627	4,261	8,723	14,729	13,810	4,403,656
36		15,253	5,424	8,044	18,270	7,770	4,402,067
37		14,844	5,375	8,366	15,296	5,364	4,029,953
38		13,941	4,159	8,785	13,056	7,577	3,839,754
39		14,315	5,170	10,010	15,566	5,976	4,145,752
40		13,487	4,832	9,006	14,554	9,029	4,064,653
41		14,300	4,925	6,846	19,381	10,585	4,412,703
42		15,266	4,220	7,554	19,199	12,458	4,602,105
43		14,018	5,075	8,124	15,122	7,451	4,014,122
44		13,420	4,512	10,942	17,506	7,871	4,321,089
45		13,939	4,850	10,320	20,052	6,233	4,433,536
46		13,145	5,337	9,862	17,154	9,551	4,357,616
47		15,206	5,524	8,612	18,478	10,361	4,621,859
48		14,296	5,249	7,601	20,456	10,273	4,558,351
49		13,420	4,443	9,730	11,272	6,224	3,682,762
50		14,085	5,267	8,663	10,582	13,250	4,111,275