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Question 2 Jake is selling dishes of premium tuna sushi at a small food stall. Each...

Question 2
Jake is selling dishes of premium tuna sushi at a small food stall. Each dish of tuna sushi costs him $10 to prepare. He sells each dish of premium tuna sushi at $30. If a customer comes to his stall to buy sushi but he runs out of sushi, he gives the customer $5 worth of bento for free and asks him/her to come back some other day.
He knows from his past experience that daily demand for sushi follows the following probability distribution.

Daily Demand
20 dishes

Probability

0.15

Daily Demand
30 dishes

Probability
0.30

Daily Demand
40 dishes

Probability
0.35

Daily Demand
50 dishes

Probability
0.20


Jake wonders whether he should prepare 20, 30, 40 or 50 dishes of premium tuna sushi every morning. He heard that simulation analysis might be able to help him decide.
(a) Define the decision problem Jake is facing. Discuss how simulation analysis should be conducted to help Jake.
(10 marks)
(b) Use simulation to predict Jake’s profit for 5 days of operations, assuming that Jake prepares 40 dishes a day. Use the following random numbers (in sequence) to generate daily demands of 5 days: 0.98, 0.84, 0.25, 0.09, 0.65
(15 marks)

math   Statistics-And-Probability   
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Answer #1

Demand Prd ケてつーo. 0.3s o.Io -04 (q, Here Jake has to fala de4rền hơw many Dav o. 84 4 TN = 190 Expected demand en h bas simnl

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