Construct a spreadsheet simulation to simulate 100 customers

Assignment Help Financial Econometrics

Reference no: EM13328345

Supermarket customers load their carts with goods totaling between $5 and $200 uniformly (continuously) distributed; call this the raw order amount. Assume that customers purchase independently of each other. At checkout 63% of customers have a loyalty card that gives them 4% of their raw order amount. Also at checkout, 18% of customers have coupons that give them 7% of their raw order amount. These two discounts occur independently of each other, and a given customer could have one or the other of them, both of them or neither of them, to get to their net order amount (what they actually pay). Construct a spreadsheet simulation to simulate 100 customers and collect statistics on the net order amount; these statistics should include the average, standard deviation, minimum, maximum, and a histogram to describe the distribution of the net amounts between $0 and $200.

(HINT: to decided whether a customer gets a loyalty discount, explore the Excel IF function with the first argument's being a random number RAND() distributed uniformly between 0 and 1; do similarily to decide on a coupon discount.)

Reference no: EM13328345

Questions Cloud

Organisational challenges that employee diversity : Explain and critically examine what 21st Century managers can learn from 20th Century management theories and concepts and explain and critically examine theories on the personal and organisational challenges that employee diversity can place on man..

Determine how much will have to save each month in years : First, he would like to be able to retire 30 years from now with retirement income of $31,500 per month for 25 years, with the first payment received 30 years and 1 month from now.

What is the surface charge density on the glass : Two 5.0-cm-diameter metal disks separated by a0.61-mm-thick piece of Pyrex glass are charged to a potential difference of 1300V. What is the surface charge density on the glass

Explain alpha-phenylethylamine from the mother liquor : How could you isolate the R-(+)-alpha-phenylethylamine from the mother liquor that remained after you crystallized and filtered off the S-(-)-alpha-phenylethylamine

Construct a spreadsheet simulation to simulate 100 customers : Supermarket customers load their carts with goods totaling between $5 and $200 uniformly (continuously) distributed; call this the raw order amount. Assume that customers purchase independently of each other.

Explain equation for a solution of propanoic acid : Write the Henderson-Hasselbalch equation for a solution of propanoic acid (CH3CH2CO2H, pKa = 4.874 ) using HA and A- in the expression. pH= ? Using this equation, calculate the quotient

Discussion using the milgram experiment : Discuss how regular employees of certain large corporations (such as Enron or Goldman Sachs, etc.) could ignore or support highly unethical and/or illegal financial activities

Explain why is the temperature increased for the second step : in the second step of the Mond process, the gaseous Ni(CO)4 is isolated and heated to 500 K. the equilibrium constant for the above reaction at 500 K is 1.21 x 10^-4. why is the temperature increased for the second step of the Mond process?

Draw an initial entity-relationship model : Normalise the Project Allocation form (Fig 1) to arrive at third normal form entities. Show all the steps of normalisation clearly.

User Account

All Pages