I’m stuck on a Excel question and need an explanation.
I need the excel file showing the formulas and calculations.
a. Conduct a one day simulation using Excel (150 customers (periods) per day). HINT: set up a simulation to repeat what happens during each of the 150 four-minute periods. For each period, keep track of the number of customers currently waiting, the number of customers arriving, number of customers being served (0 if there is no one waiting or arriving and 1 otherwise), the order size (profit) for that customer (if there is a customer), and number of customers balking.
b) For each day, determine the total revenue per day and the number of lost customers per day.
c) Simulate 30 days to find out the average total profit per day and the average number of lost customers per day. You can repeat the simulation 30 times (eg. using F9) and keep track of the total profit and number of lost customers per day.