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a a 20. The manager of the extended-stay hotel in Problem 46 of Chapter 11 believes that the number of rooms rented during any given
a a 20. The manager of the extended-stay hotel in Problem 46 of Chapter 11 believes that the number of rooms rented during any given week has a triangular dis- tribution with minimum 32, most likely 38, and maximum 50. The weekly price is $950, and weekly operating costs follow a normal distribution with mean $20,000 and a standard deviation of $2,500 but with a minimum value of $15,000. (Hint: You can- not embed RAND within the NORM.INV function in order to truncate the value using an IF statement. Use the same idea as generating a triangular random variate.) Run a simulation using 200 trials to answer the following questions. a. What is the probability that weekly profit will exceed $20,000? b. What is the probability that weekly profit will be less than $10,000? a D Extended Stay Hotel 2 Weekly Price Operating costs Number of Rooms $950 00 $1600000 Total Revenue Profit $0.00 $15.000.00 10 Number of Rooms 32 SABA M346735 0.30 13 c 14 R 15 FC) 16 17 Triangular random variate 10 19 Operating costs Random number Normal random variate -$15.000.00 1 2 3 4 5 6 7 3 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 : SENRX2 Minimum Manimum Average Standard Deviation Bins Cum. Frequency Frequency 57.500 $10.000 $12.500 515 000 $17.500 $20.000 $22.500 $25.000 $2.500 $30,000 $12.500 $35.000
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