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.

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 SOLDPROBABILITY
230.15
240.22
250.24
260.21
270.18

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

520650885330104799376691353200845707
376328027435240329607485907359551760
825768280594031127799087924109253677
690236497199321075219590943897717249
989490360678236789852921257369348576
965262874956592378717290570198573195
336927211160958968481789340993504451
503350951344346264395529306449443016
883218506257345662311540903451952614
903036246982517430353685015592640985
504861188523085417128069248492164959
278821626964483112730268001616461385
451446321349666274418698929884543340
810201788274973745319499424927648942
668314742776033311975981720064611352
740581829309963352781306283094233739
303487017411468259942534322317015873
595572336213746822444209324671794589
670980989925775003323663657594199588
607746637169442203851448691330503324
600819293672302750648572752987057501
804586990234870886844976240801862911
538449632665728485632602752692624067
698412945136170215291652564326220862
377713100218311932853194814331583351

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

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