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please help with excels or risk solver this is the only part I need help with can you try your best Instructions: Answer the following
please help with excels or risk solver this is the only part I need help with
can you try your best
Instructions: Answer the following questions using the Risk Solver Platform (RSP) Excel add-in. Jim Johnson operates a bus service to take college students to "The Big City" on Friday night and bring them back to school on Sunday night. The bus has 45 seats but sometimes there are empty seats. His records show that about 5% of ticket holders do not show up for their ride. Tickets cost $20 and are non-refundable. If Jim overbooks the bus and more than 45 passengers show up, some of them will be bumped and have to miss the trip. This bumping costs the company $40 because Jim has a double-your-money back policy for bumped passengers. Jim plans to accept 48 reservations (overbook 3 seats). A B 1 Jim's Big City Bus Reservation System 2 3 4 45 5 $20 6 Seats Available Ticket Price per Seat Prob. of No-Show Cost of Bumping Reservations Accepted 0.05 7 8 $40 48 9 10 Passengers to Board 42 11 12 $960 13 0 14 Ticket Revenue Opp. Cost of Empty Seats Cost of Bumping Passengers Marginal Profit MODEL $80 15 $880 What is Jim Johnson's expected marginal profit? Instructions: Answer the following questions using the Risk Solver Platform (RSP) Excel add-in. Jim Johnson operates a bus service to take college students to "The Big City" on Friday night and bring them back to school on Sunday night. The bus has 45 seats but sometimes there are empty seats. His records show that about 5% of ticket holders do not show up for their ride. Tickets cost $20 and are non-refundable. If Jim overbooks the bus and more than 45 passengers show up, some of them will be bumped and have to miss the trip. This bumping costs the company $40 because Jim has a double-your-money back policy for bumped passengers. Jim plans to accept 48 reservations (overbook 3 seats). A B 1 Jim's Big City Bus Reservation System 2 3 4 45 5 $20 6 Seats Available Ticket Price per Seat Prob. of No-Show Cost of Bumping Reservations Accepted 0.05 7 8 $40 48 9 10 Passengers to Board 42 11 12 $960 13 0 14 Ticket Revenue Opp. Cost of Empty Seats Cost of Bumping Passengers Marginal Profit MODEL $80 15 $880 What is Jim Johnson's expected marginal profit Step by Step Solution
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