Computing the mean total ridership

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Reference no: EM132306167

TrenItalia is studying ridership on its high-speed connection between Milano and Rome. There are 104 trains daily, with a ridership that is normally distributed (average of 72 and a standard deviation of 11 per train). Ridership is constant in January and February. With the onset of the tourist season, ridership increases by 20% per month, from March to June including, stays constant at that level throughout August, and then decreases by 20% each during the remaining months of the year. Average profit for tickets is Euro 12.50 per ticket from January to March including, Euro 17.75 per ticket from April on into October (due to increase in price during peak tourist season) and Euro14.50 for the remaining months. Formulate a Monte Carlo simulation, computing the mean total ridership, with standard deviation, and the mean total profit, per year.

Reference no: EM132306167

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