Question
Bob and Lenny are graduating from college in May and plan to get married in June. One of the challenges facing them is to figure
Bob and Lenny are graduating from college in May and plan to get married in June. One of the challenges facing them is to figure out how many meals to have prepared for the reception. They are inviting 200 people but they have read that not everyone will attend. The best estimate they have is that the number that will attend is normal distribution with a normal mean 165 and Standard deviation 15. Each meal they reserve for the reception costs them $95. If the reception hall staff has to set up extra tables and serve additional meals that were not planned for, the cost per additional meal is $130. Try values of 140, 145, 150, 155, 160, 165, 170,175, and 180. (simulation with 500 trials). Use Microsoft Exel to answer this question. It's a Simulation Modeling question. There's no more info that can be given.
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