(All answers were generated using 1,000 trials and native Excel functionality.)

The wedding date for a couple is quickly approaching, and the wedding planner must provide the caterer an estimate of how many people will attend the reception so that the appropriate quantity of food is prepared for the buffet. The following table contains information on the number of RSVPs for the 145 invitations. Unfortunately, the number of guests who actually attend does not always correspond to the number of RSVPs.

Based on her experience, the wedding planner knows that it is extremely rare for guests to attend a wedding if they affirmed that they will not be attending. Therefore, the wedding planner will assume that no one from these 50 invitations will attend. The wedding planner estimates that each of the 25 guests planning to come alone has a 75% chance of attending alone, a 20% chance of not attending, and a 5% chance of bringing a companion. For each of the 60 RSVPs who plan to bring a companion, there is a 90% chance that she or he will attend with a companion, a 5% chance of attending alone, and a 5% chance of not attending at all. For the 10 people who have not responded, the wedding planner assumes that there is an 80% chance that each will not attend, a 15% chance they will attend alone, and a 5% chance that they will attend with a companion.

RSVPs	No. of Invitations
0	50
1	25
2	60
No response	10

(a)	Assist the wedding planner by constructing a spreadsheet simulation model to determine the average number of guests who will attend the reception.
	If required, round your answer to the nearest whole number.
(b)	To be accommodating hosts, the couple has instructed the wedding planner to use the simulation model to determine X, the minimum number of guests for which the caterer should prepare the meal, so that there is at least a 90% chance that the actual attendance is less than or equal to X.
	What is the best estimate for the value of X?
	- Select your answer -P(X 140) 89% and P(X 141) 93%P(X 140) 89% and P(X 141) 93%P(X 140) 89% and P(X 141) 93%P(X 140) 89% and P(X 141) 93%Item 3

Upgrade Revenue (normal)

mean

$100,000

standard deviation

$25,000

Model

Year

Upgrade Revenue

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

NPV

$0.00