Simulate the sales of programs

Assignment Help Operation Management

Reference no: EM13224298

Part A:

Every home football game for the last 8 years at Eastern State University has been sold out. The revenues from ticket sales are significant, but the sale of food, beverages, and souvenirs has contributed greatly to the overall profitability of the football program. One particular souvenir is the football program for each game. The number of programs sold at each game is described by the probability distribution given in the table below?

938_Determine the critical activities.png

Each program costs $.80 to produce and sells for $2.00. Any programs that are not sold are donated to a recycling centre and do not produce any revenue.

a) Simulate the sales of programs at 10 football games. Use the random numbers listed below.

b) If the university decided to print 2,500 programs for each game, what would the average profits be for the 10 games that were simulated?

c) If the university decided to print 2,600 programs for each game, what would the average profits be for the 10 games that were simulated? Students can use the simulation module POM-QM for Windows for this question.

Part B:

Discuss how you will be able to use the Simulation Methodology in one of the following areas:

a. Project Planning - in determining the critical activities or the project duration
b. Inventory Control - in deriving the optimal order quantity of an item held in inventory.

Reference no: EM13224298

Questions Cloud

Find out activation barrier : A reaction has a rate constant of 1.27×10?4 /s at 28 degrees C and 0.226 /s at 78 degrees C. Determine Activation Barrier. What is the value of the rate constant at 16 degrees C?

Position of advertising executive : You are currently an associate at an advertising agency where you have worked for 2 years. You are pursuing a promotion to the position of advertising executive.

Explain what is the min catalyst ton for an economically : The hydrosylation of polymer A is carried out in the presence the polymer forms a hard gel. if the price of pt is 44$ per gram and the sale price of the hardened polymer is 2000 per ton, what is teh min catalyst TON for an economiclly viable proce..

What is the minimum amount of swiss francs : what is the minimum amount of Swiss Francs they should receive on September 28th, 2014 given the 9-month forward rate for one US dollar in terms of Swiss Francs you calculated in problem one? What are two other ways Nestle might hedge its SF/US$ e..

Simulate the sales of programs : Simulate the sales of programs at 10 football games. Use the random numbers and what would the average profits be for the 10 games that were simulated?

Systematically avoided the study of consciousness : The school of though in psychology that systematically avoided the study of consciousness during the first half of the last century was?

Compute the molar solubility of calcium fluoride : Calcium fluoride CaF2 is an insoluble salt. The Ksp is 3.4 x 10^-11. Calculate the molar solubility of calcium fluoride.

How are medieval instruments similar to todays instruments : How did the Roman Catholc church influence music in the Middle Ages?

Which musical element is usually the most important to you : When listening to music, which musical element is usually the most important to you, and why? (Such as melody, rhythm, tempo, harmony, etc.)

User Account

All Pages