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The Grand Circus wants to know most effective placement of staff in their Circus

Business

The Grand Circus wants to know most effective placement of staff in their Circus. Customers arrive according to exponential distribution with the mean of 2 minutes. Customers enter the Circus if ticket line is not greater that double value of Max waiting line size (which is currently 3). The Grand Circus wants to record how many customers go back because of the large waiting line. Ticket purchase time is triangular(1, 1.5, 3.5) minutes. After customers buy tickets they enter the lobby and 80% of them feel hungry and want to buy refreshment. There are two refreshment stands, main and satellite. The hungry patrons first look at the main refreshment stand, and if its queue is not larger than Max waiting line size (5) join the queue to buy refreshment. If the line is too long, they go to satellite stand. If its line is again not larger than Max waiting line size (5), they join to buy refreshment. If not, they skip buying refreshment and go directly to movie room, as other (non-hungry) patrons. Refreshment purchase time is triangular(4,5,9) in minutes for both, main and satellite stands. The company wants to estimate its revenue and lost opportunity, knowing that ticket price is $1.50, and customers buy refreshments for the amount of, on average, $2.00. nMake a model of this problem in Excel to simulate this operation and answer the following two questions. Run the simulation for 8 hours and replicate it 10 times. 1. How much is the estimated revenue? 2. How much is the lost opportunity (i.e., potential revenue that was not realized) because of the large waiting lines? Submit model in Excel file containing all calculations. In your excel file, highlight the cells that correspond to the answers to the above questions.

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