You must use @Risk:The revenues from ticket sales at CSU are significant, but the sale of food, beverages, and souvenirs has contributed greatly to the overall profitability of the football program....

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You must use @Risk:





The revenues from ticket sales at CSU are significant, but the sale of food, beverages, and souvenirs has contributed greatly to the overall profitability of the football program. One particular souvenir is the football program for each game. The distribution of the demand of programs at each game is unknow but information about the last 140 games is available on file Module4_Assignment.xlsx (check under Excel Files Module). Historically, CSU has never seen the demand per game to be fewer than 2,300 programs or more than 2,700 programs.




Each program costs $0.75 to produce and sells for $2.00. Any programs that are not sold are donated to a recycling center and do not produce any revenue. The distribution of the number of programs to print per game(supply) is unknown but information about the last 140 games is available on file Module4_Assignment.xlsx (check under Excel Files Module).






  1. Identify the best distributions to fit your data (and their parameters).


    Comment on your findings.









  2. Simulate profit per game (iterations = 1,000).






  3. Compute the expected profit per game, median profit and the std. deviation.






  4. What is the probability that profit per game will be between x than y? (pick arbitrary values for x and y)







Sheet1 Programs To PrintDemand 25452300 25262500 25082600 25132500 25162500 24152400 24982700 24902400 24482400 24982400 25082400 25592300 25042700 24852400 25142600 25162500 25582300 25122400 25582600 25502700 25162700 25602300 25312600 25332300 24272700 25872500 24692700 24982300 25182400 24912700 25092400 25112600 25592500 24972300 25142600 25412700 24892600 25012600 24552300 24652400 25372400 25382400 25672600 24902300 24952500 26042300 25722300 25362500 24852600 24662600 24622600 25172600 24712500 24312600 24272700 25542700 26072500 24232600 24232500 25112600 25562500 24072300 25642400 24992600 25082600 24772400 23942300 24082500 25362500 24392600 24512700 25712500 25582300 24572400 25392300 25632600 25102500 25292300 24152300 24692400 24832600 24972300 24722300 24632500 25342400 25432600 25072400 24192400 25882600 25142600 24972500 24482500 25742600 25002500 24352500 24922400 25332700 24552400 25252500 25752300 23522500 22712700 23442600 23182500 22572700 23042400 22642700 23332500 22372400 23412300 22602400 23792300 23292300 22722400 22662300 22412600 22772400 22552300 23192300 23602600 23682500 22462500 22932600 22412400 23602300 23102300 23712400 23412300 23182400 23512300 23592300 22322400 22522700 23022700 23092300 23172700 23692500 22612400 23722600 22802700

Answered 1 days AfterNov 10, 2023

Answer To: You must use @Risk:The revenues from ticket sales at CSU are significant, but the sale of food,...

Banasree answered on Nov 12 2023
27 Votes
Page | 2
1.Ans.
Descriptive Statistic:
    Demand Data
    
    
    Mean
    2480.714286
    Standard Error
    11.554
26131
    Median
    2500
    Mode
    2300
    Standard Deviation
    136.7118634
    Sample Variance
    18690.13361
    Kurtosis
    -1.228260318
    Skewness
    0.132287275
    Range
    400
    Minimum
    2300
    Maximum
    2700
    Sum
    347300
    Count
    140
    Largest(1)
    2700
    Smallest(1)
    2300
    Confidence Level(95.0%)
    22.84482808
    
    
Interpretation:
The histogram in the figure shows the distribution of demand for football programs at CSU. The best distribution to accommodate this data is the normal distribution. The normal distribution, also known as the Gaussian distribution, is a bell-shaped distribution that is symmetric about the mean. The overall the distribution is well suited to the requirements of the football program at CSU because the distribution is symmetrical. The average requirement is 2,500 systems, with most sports requiring between 2,300 and 2,700 systems.
2.Ans.
Please refer spreadsheet for the detail calculation.
Simulated profit:
    Simulating...
SOLUTION.PDF

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