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The Paymore Rental Car Agency rents cars in a small town. It wants to determine how many rental cars it should maintain. Based on market
The Paymore Rental Car Agency rents cars in a small town. It wants to determine how many rental cars it should maintain. Based on market projections and historical data, the manager has determined probability distributions for the number of rentals per day and rental duration (in days only) as shown in the following tables: Number of customers per Probabilit da i __ __ Design a simulation experiment for the car agency and simulate using a eet of four rental cars for 10 days. Compute the probability that the agency will not have a car available upon demand. Should the agency expand its fleet? Explain how a simulation experiment could be designed to determine the optimal fleet size for the Paymore Agency. Use the following random numbers in order (from left to right) for the simulation of number of customers per day: M Use the following random numbers in order (from left to right, rst row first - as you need them) for the simulation of car rental duration in days. MW mun-mm: ---E------W
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