We all hate to bring small change to the store. Usingrandom numbers, we can eliminate the need for change andgive the store and the customer a fair shake.a Suppose you buy something that costs $.20. How could you use random numbers (built into the cash reg-ister system) to decide whether you should pay $1.00 or nothing? This eliminates the need for change!b If you bought something for $9.60, how would youuse random numbers to eliminate the need for change?c In the long run, why is this method fair to both thestore and the customer?

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
icon
Related questions
Question

We all hate to bring small change to the store. Using
random numbers, we can eliminate the need for change and
give the store and the customer a fair shake.
a Suppose you buy something that costs $.20. How

could you use random numbers (built into the cash reg-
ister system) to decide whether you should pay $1.00 or

nothing? This eliminates the need for change!
b If you bought something for $9.60, how would you
use random numbers to eliminate the need for change?
c In the long run, why is this method fair to both the
store and the customer?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Forecasting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.