Cruz Wedding Photography (see Problem 15 in Chapter 11) believes that the average number of wedding bookings

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Cruz Wedding Photography (see Problem 15 in Chapter 11) believes that the average number of wedding bookings per year can be estimated by triangular distribution with a minimum of 10, maximum of 22, and most likely value of 15.

One of the key variables in developing his business plan is the life he can expect from a single digital single lens reflex (DSLR) camera before it needs to be replaced. Due to heavy usage, the shutter life expectancy is estimated by a normal distribution with a mean of 150,000 clicks with a standard deviation of 10,000. For each booking, the average number of photographs taken is assumed to be normally distributed with a mean of 2,000 with a standard deviation of 300.

Develop a simulation model to determine the distribution of the camera life (in years).

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Business Analytics

ISBN: 9781292095448

2nd Global Edition

Authors: James R. Evans

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