- Satisficing model
- Opportunity Cost
- Sunk cost
- Break-even point
|Time between arrivals (minutes)||Frequency|
a)Using the random number functionin excel simulate the arrival of 25 customers
b)Calculate the total simulated hours, total waiting time for the customer service team member, and the total wait time for the customer?
c)Do you think that enough simulations have been completed to report an outcome to the general manager, explain your answer?
On the third day in your role as accountant the general manager has asked you to review the results of 2012 and 2013 to try and determine if there is a relationship between the number of meals prepared per month and the administration costs which she believes to be too high. Data regarding the number of conferences per month, number of meals prepared for that month and the administration costs for the months of 2012 and 2013 are as follows:
Boutique Catering is considering expanding the business structure by preparing frozen meals that will be home-
|Cost per mea||Preparation (hours)||Cooking (hours)||Freezing (hours)|