A B C D E F G H I J K L M N O P Q

1 Dr. Ivanna Ceeyu (Ophthalmologist)

2
3 Given Information
4 Fixed Cost of Info Session $2,500
5 Profit per Surgery $1,500
6 # of Reservations for Info Session 6 -----------------------> Custom Discrete Probability Distribution
7 Probability that Attendee at Info Session Elects Surgery 0.60 Value 0 1 2 3 4 5 6 7 8 9 10
8 Prob 0.02 0.05 0.08 0.16 0.26 0.18 0.11 0.07 0.05 0.01 0.01
9 Decision
10 Info Session Cutoff Value V 1
11
12 Computations
13 # Attending Info Session (0 if canceled) 6
14 Number of Surgeries 3.6
15 Profit from Surgeries $5,400
16 Fixed Cost of Info Session (if held) ($2,500)
17 Total Profit $2,900
18
19 CUSTOMIZED SIMULATION RESULTS
20 Info Session Cutoff Value V 1 2 3 4 5 6 7 8 9 10
21 Simulation # 1 2 3 4 5 6 7 8 9 10
22 Mean $1,486 $1,566 $1,621 $1,585 $1,302 $944 $623 $355 $122 $64
23 Profit Std Dev $2,263 $2,172 $2,102 $2,065 $2,054 $1,957 $1,744 $1,421 $913 $680
24 Pf{Profit $0} 0.24304 0.24304 0.27256 0.37802 0.59136 0.75584 0.86188 0.93066 0.98004 0.99002
25
26 CUSTOMIZED SIMULATION RESULTS (pasted after simulation)
27 Info Session Cutoff Value V 1 2 3 4 5 6 7 8 9 10
28 Simulation # 1 2 3 4 5 6 7 8 9 10
29 Mean $1,483 $1,562 $1,616 $1,587 $1,306 $948 $624 $357 $120 $65
30 Profit Std Dev $2,270 $2,182 $2,113 $2,072 $2,058 $1,960 $1,745 $1,421 $898 $687
31 Pf{Profit $0} 0.24762 0.24762 0.27672 0.37950 0.59168 0.75574 0.86168 0.93050 0.98002 0.99000

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