The owner of Cruz Wedding Photography believes that the

Last updated: 11/6/2023

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 of the 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 normal distribution with a mean of 147 500 clicks with a standard deviation of 9 000 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 of 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 147 500 9 000 0 and the photos per wedding is randomly generated using the Excel formula ROUND NORM INV RAND 2 050 325 0 The formula for the average weddings per camera is B3 B5 and the formula for the camera life in years is B6 B4 Type whole numbers Determine the mean standard deviation minimum and maximum of the provided sample of 50 simulation trial results The mean is Round to four decimal places as needed