Each semester the student in t.
12. Each semester the student in the college of business at StateUniversity must have their course schedules by the college advisor. Thestudents line up in the hallway outside the advisorâs office. Thestudents arrive at the office according to the following probabilitydistribution.Time between Arrivals (min)Probability4.205.306.407.101.00The time required by the advisor to examine and approve a schedulecorresponds to the following probability distribution.Schedule Approval (min)Probability6.307.508.201.00Simulate this course approval system for 90 minutes. Compare the averagequeue length and the average time a student must wait, and discuss theresults.14. Loebuck Grocery orders milk from a dairy on a weekly basis. The manager of the store has developed the following probability distributino for demand per week in cases:Probability.220.127.116.11The milk costs the grocery $10 per case and sells for $16 per case. The carrying cost is $0.50 per case per week and the shortage cost is $1 per case per week. Simulate the ordering system for Loebuck Grocery for 20 weeks. Use a weekly order size of 16 cases of milk and compute the average weekly profit for the order size. Explain how the complete simulationfor determining order size would be developed for this problem.20. The Western Outfitters store specializes in denim jeans. Thevariable cost of the jeans varies according to several factors,including the cost of the jeans from the distributor, labor cost,handling, packaging, and so on. Price also is a random variable thatvaries according to the competitorâs price. Sales volume also varieseach month. The probability distributions for price, volume, andvariable costs each month are as follows.Sales VolumeProbability300.12400.18500.20600.23700.17800.101.00PriceProbability$22.07 23.16 24.24 25.25 26.18 27.101.00Final costs are $9,000 per month for the store.Simulate 20 months of store sales, and compute the probability the storewill at least break even and the average profit (or loss).