King City Inc. manufactures machine tools. The production planner who oversees the production of two of King City’s machines needs to determine how many of each to produce this month…..
What is the best estimate for the value of X?
Gorditos sells a variety of Mexican-inspired cuisine for which tortillas are often the main ingredient. Assume that each customer places an order requiring one tortilla with a 75% probability independent of other customers’ orders. The other 25% of customers place orders that do not require a tortilla. Assume that the number of customers who arrive per hour has a Poisson distribution with the average number of customers in an hour time slot given in the following table:
a. Assist the wedding planner by constructing a spreadsheet simulation model to estimate the average number of guests who will attend the reception.
b. To be accommodating hosts, the couple has instructed the wedding planner to use the simulation model to determine X, the minimum number of guests for which the caterer should prepare the meal, so that there is at least a 90% chance that the actual attendance is less than or equal to X. What is the best estimate for the value of X?