After completing the simulation, determine his total revenue for the ten days as well as monetary losses that result from unmet demand and unsold papers
Use the information and random numbers given in the table below to simulate the sale of newspapers for 10 days.
Day Demand Random Number Quantity Ordered Sales Unsatisfied Demand Unsold Papers
1 .78 18
2 .43
3 .93
4 .87
5 .48
6 .84
7 .87
8 .27
9 .20
10 .52
Answer:
Day Demand Random Number Quantity Ordered Sales Unsatisfied Demand Unsold papers
1 18 0.78 18 18 0 0
2 17 0.43 18 17 0 1
3 20 0.93 17 20 3 0
4 19 0.87 20 19 0 1
5 17 0.48 19 17 0 2
6 19 0.84 17 19 2 0
7 19 0.87 19 19 0 0
8 17 0.27 19 17 0 2
9 16 0.2 17 16 0 1
10 17 0.52 16 17 1 0
Total 179 6 7
Revenue $179.00
Cost of unsold papers $1.75
Cost of unmet demand $3.00
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