Simulate the sales of programs at 10 football games. Use the last column in the random number table (Table 13.4) and begin at the top of the column.

Every home football game for the past 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 following probability distribution:

NUMBER (IN 100S) OF PROGRAMS SOLD	PROBABILITY
23	0.15
24	0.22
25	0.24
26	0.21
27	0.18

Historically, Eastern has never sold fewer than 2,300 programs or more than 2,700 programs at one game. Each program costs $0.80 to produce and sells for $2.00. Any programs that are not sold are donated to a recycling center and do not produce any revenue.

a) Simulate the sales of programs at 10 football games. Use the last column in the random number table (Table 13.4) and begin at the top of the column.

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

c) If the university decided to print 2,600 programs for each game, what would the average profits be for the 10 games simulated in part (a)?

Table 13.4 Table of Random Numbers

52	06	50	88	53	30	10	47	99	37	66	91	35	32	00	84	57	07
37	63	28	02	74	35	24	03	29	60	74	85	90	73	59	55	17	60
82	57	68	28	05	94	03	11	27	79	90	87	92	41	09	25	36	77
69	02	36	49	71	99	32	10	75	21	95	90	94	38	97	71	72	49
98	94	90	36	06	78	23	67	89	85	29	21	25	73	69	34	85	76
96	52	62	87	49	56	59	23	78	71	72	90	57	01	98	57	31	95
33	69	27	21	11	60	95	89	68	48	17	89	34	09	93	50	44	51
50	33	50	95	13	44	34	62	64	39	55	29	30	64	49	44	30	16
88	32	18	50	62	57	34	56	62	31	15	40	90	34	51	95	26	14
90	30	36	24	69	82	51	74	30	35	36	85	01	55	92	64	09	85
50	48	61	18	85	23	08	54	17	12	80	69	24	84	92	16	49	59
27	88	21	62	69	64	48	31	12	73	02	68	00	16	16	46	13	85
45	14	46	32	13	49	66	62	74	41	86	98	92	98	84	54	33	40
81	02	01	78	82	74	97	37	45	31	94	99	42	49	27	64	89	42
66	83	14	74	27	76	03	33	11	97	59	81	72	00	64	61	13	52
74	05	81	82	93	09	96	33	52	78	13	06	28	30	94	23	37	39
30	34	87	01	74	11	46	82	59	94	25	34	32	23	17	01	58	73
59	55	72	33	62	13	74	68	22	44	42	09	32	46	71	79	45	89
67	09	80	98	99	25	77	50	03	32	36	63	65	75	94	19	95	88
60	77	46	63	71	69	44	22	03	85	14	48	69	13	30	50	33	24
60	08	19	29	36	72	30	27	50	64	85	72	75	29	87	05	75	01
80	45	86	99	02	34	87	08	86	84	49	76	24	08	01	86	29	11
53	84	49	63	26	65	72	84	85	63	26	02	75	26	92	62	40	67
69	84	12	94	51	36	17	02	15	29	16	52	56	43	26	22	08	62
37	77	13	10	02	18	31	19	32	85	31	94	81	43	31	58	33	51

When pluging information in Excel QM I don’t understand how to get the value and frequencies=”color:>

Simulate the sales of programs at 10 football games. Use the last column in the random number table (Table 13.4) and begin at the top of the column.

Related posts:

Related Posts

GET HELP WITH YOUR HOMEWORK PAPERS @ 25% OFF