The operations manager of an amusement park wants to use a simulation model to assess the uncertainty of profits generated for the next 10 days. He assumes that the number of park visitors each day will come from a normal distribution with an average of 2,000 and a standard deviation of 250. Each visitor will pay a $75 fee to get into the park. The manager is also not quite sure about the daily cost but assumes it will be anywhere between $60,000 and $90,000 with equal likelihood. So, the profit for each day could be calculated as follows:

Daily Profit = 75 x Number of Visitors Daily Cost

a) Use the random numbers given in the following table to simulate the number of visitors, the daily cost and the daily profit for each of 10 days. Use the last 3 columns of the table to report your results. Also: what is the average profit? What is the minimum and maximum profit in this simulation?

b) Can you think of a reason why this simulation may not be a realistic model for daily profits?

IMPORTANT: You dont need to worry about rounding the number of visitors (or daily cost) to an integer value for the purpose of this assignment.