Sep 27, 2017 term paper 2

YOU ANSWERED THE FOLLOWING QUESTION BUT IM INTERESTED IN KNOWING THE ACTUAL EXCEL FORMULAS. CAN…

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you answered the following question but im interested in knowing the actual excel formulas. Can you help me understand the formulas used to get the answer. the question was: Supermarket customers load their carts with goods totaling between $5 and $200 uniformly (continuously) distributed; call this the raw order amount. Assume that customers purchase independently of each other. At checkout 63% of customers have a loyalty card that gives them 4% of their raw order amount. Also at checkout, 18% of customers have coupons that give them 7% of their raw order amount. These two discounts occur independently of each other, and a given customer could have one or the other of them, both of them or neither of them, to get to their net order amount (what they actually pay). Construct a spreadsheet simulation to simulate 100 customers and collect statistics on the net order amount; these statistics should include the average, standard deviation, minimum, maximum, and a histogram to describe the distribution of the net amounts between $0 and $200. (HINT: to decided whether a customer gets a loyalty discount, explore the Excel IF function with the first argument’s being a random number RAND() distributed uniformly between 0 and 1; do similarily to decide on a coupon discount.


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