A local children’s museum typically experiences more visits during

A local children’s museum typically experiences more visits during summer. Assume that the number of adult tickets sold over summer are 20,000 and the number of children tickets sold are 35,000. Adult ticket prices are $20.00 and a child’s ticket sells for $12.00. Each visitor to the museum spends on average $7.00 on food and beverage. The souvenir revenue is expected to be $120,000 over the summer season. The museum estimates a variable cost per visitor (adult or child) of $4 and a fixed cost of $600,000 over summer.

Part A) Determine the profitability of the museum over the summer season. Write down the profit here>>

Part b) Now assume that the number of adult tickets sold are normally distributed with a mean of 20,000 and a standard deviation of 1500. Also assume that the number of children tickets sold is normally distributed with a mean of 35,000 and a standard deviation of 800. Run a simulation of 100 trials. What is the probability that the museum’s profit over summer is at least $480,000? Indicate clearly which cell your answer appears in.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages