The wedding date for a couple is quickly approaching, and the wedding planner must provide the caterer
Question:
a. Assist the wedding planner by constructing a spreadsheet simulation model to determine the expected number of guests who will attend the reception.
b. To be accommodating hosts, the couple has instructed the wedding planner to use the
Monte Carlo 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 percent chance that the actual attendance is less than or equal to X. What is the best estimate for the value of X?
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Related Book For
Essentials Of Business Analytics
ISBN: 611
1st Edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
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