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The owner of Cruz Wedding Photography believes that the average number of wedding bookings per year can be estimated by a triangular distribution with a minimum of 10 maximum of 22 and most likely value of 15 One o key variables in developing his business plan is the life he can expect from a single digital single lens reflex DSLR camera before it needs to be replaced Due to heavy usage the shutter life expectancy is estimated by a non distribution with a mean of 150 000 clicks with a standard deviation of 9 500 For each booking the average number of photographs taken is assumed to be normally distributed with a mean of 2 050 and a standard deviation c 325 Develop a simulation model using 50 trials to determine summary statistics and the distribution of the camera life in years Click the icon to view a sample of 50 simulation trial results Say the values of the shutter life in clicks the weddings per year the photos per wedding the average weddings per camera and the camera life in years are entered in cells B3 B4 B5 B6 and B8 respectively Then for the Monte Carlo simulation the shutter life is randomly generated using the Excel formula ROUND NORM INV RAND 0 and the photos per wedding is randomly generated using the Excel formula ROUND NORM INV RANDO 0 The formula for the average weddings per camera is B B and the formula for the camera life in years is B Type whole numbers Simulation Results 4 1591 4 9381 5 2278 3 6359 4 5788 5 4033 5 0415 5 0108 4 5155 COLORE 3 6989 6 6325 2 8807 3 5109 6 0309 4 9318 3 6081 4 6055 5 7209 3 9848 4 3627 0 X B

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