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Please very important to explain all the transactions answers Chapter 12 Monte Carlo Simulation and Risk Analysis 3. A...

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Statistics

Please very important to explain all the transactionsanswers

Chapter 12 Monte Carlo Simulation and RiskAnalysis

3. A professional football team is preparing its budget for thenext year. One component of the budget is the revenue that they canexpect from ticket sales. The home venue, Dylan Stadium, has fivedifferent seating zones with different prices. Key information isgiven below. The demands are all assumed to be normallydistributed.

Seating Zone    Seats available Ticket price   Mean Demand    Standard Deviation

First Level Sideline    15,000    $100.0014,500 750

Second Level    5,000 $90.00    4,750   500

First Level End Zone    10,000    $80.00   9,000 1250

Third Level Sideline 21000 $70.00 17,000 2500

Third Level End Zone    14000 $60.00 8,000 3000

Determine the distribution of total revenue under theseassumptions using an Excel data table with 50 simulated trials.Summarize your results with a histogram.

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