Develop a simulation model in the shel file


The owner of the Mifflinburg News Stand is trying to decide how many copies of the upcoming Sunday edition of The New York Times to order so as to meet the demand of her customers. Each copy of the newspaper costs $2.50 and is sold for $3.00. On Tuesday (following the weekend the newspapers are printed), all unsold copies will be returned to the distributor for a refund of $0.50 per copy. The owner believes that the number of papers she can sell on a typical Sunday follows the probability distribution shown in the file 7.xls. She wants to decide how many copies of The New York Times to order so as to maximize average profit from the sale of this particular newspaper. Develop a simulation model in the shell file provided with the @RISK Excel add-in. Run your simulation 1000 times for each possible order quantity to find the best one.

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Operation Management: Develop a simulation model in the shel file
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