construct a spreadsheet simulation to simulate 100 customers and collect statistics on the net order amount; these statistics should include the average, standard deviation, minimum, maximum, and a histogram to describe the distribution of the net order amounts between $0 and $250. To make the requested histogram, you can either mimic what was done in the newsvendor spreadsheet simulation, or use a different approach via whatever built-in Excel facilities you'd like. (HINT: To decide whether a customer gets a loyalty discount, explore the Excel IF function with the first argument's being a random number RAND() distributed uniformly between 0 and 1; do similarly to decide on a coupon discount.)
construct a spreadsheet simulation to simulate 100 customers and collect statistics on the net order amount; these statistics should include the average, standard deviation, minimum, maximum, and a histogram to describe the distribution of the net order amounts between $0 and $250. To make the requested histogram, you can either mimic what was done in the newsvendor spreadsheet simulation, or use a different approach via whatever built-in Excel facilities you'd like. (HINT: To decide whether a customer gets a loyalty discount, explore the Excel IF function with the first argument's being a random number RAND() distributed uniformly between 0 and 1; do similarly to decide on a coupon discount.)
construct a spreadsheet simulation to simulate 100 customers and collect statistics on the net order amount; these statistics should include the average, standard deviation, minimum, maximum, and a histogram to describe the distribution of the net order amounts between $0 and $250. To make the requested histogram, you can either mimic what was done in the newsvendor spreadsheet simulation, or use a different approach via whatever built-in Excel facilities you'd like. (HINT: To decide whether a customer gets a loyalty discount, explore the Excel IF function with the first argument's being a random number RAND() distributed uniformly between 0 and 1; do similarly to decide on a coupon discount.)
Supermarket customers load their carts with goods totaling between $5 and $250 uniformly (and continuously) distributed; call this the raw order amount. Assume that customers purchase independently of each other. At checkout, 63% of customers have a loyalty card that gives them 4% off their raw order amount. Also at checkout, 18% of customers have coupons that give them 7% off their raw order amount. These two discounts occur independently of each other, and a given customer could have one or the other of them, both of them, or neither of them. To get to their net order amount (what they actually pay) construct a spreadsheet simulation to simulate 100 customers and collect statistics on the net order amount; these statistics should include the average, standard deviation, minimum, maximum, and a histogram to describe the distribution of the net order amounts between $0 and $250. To make the requested histogram, you can either mimic what was done in the newsvendor spreadsheet simulation, or use a different approach via whatever built-in Excel facilities you'd like. (HINT: To decide whether a customer gets a loyalty discount, explore the Excel IF function with the first argument's being a random number RAND() distributed uniformly between 0 and 1; do similarly to decide on a coupon discount.)
Expression, rule, or law that gives the relationship between an independent variable and dependent variable. Some important types of functions are injective function, surjective function, polynomial function, and inverse function.
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