Exam 12: Introduction to Simulation Using Analytic Solver Platform

Exhibit 12.3 The following questions use the information below. An auto parts store wants to simulate its inventory system for engine oil. The company has collected data on the shipping time for oil and the daily demand for cases of oil. A case of oil generates a $10 profit. Customers can buy oil at any auto parts store so there are no backorders (the company loses the sale and profit). The company orders 30 cases whenever the inventory position falls below the reorder point of 15 cases. Orders are placed at the beginning of the day and delivered at the beginning of the day so the oil is available on the arrival day. An average service level of 99% is desired. The following spreadsheets have been developed for this problem. The company has simulated 2 weeks of operation for their inventory system. The current level of on-hand inventory is 25 units and no orders are pending. -Using the information in Exhibit 12.3, what Analytic Solver Platform function should be used for generating a random shipping time based on the Data spreadsheet distribution for shipping time?

In a what-if analysis the decision maker

If a spreadsheet simulation user has a probability distribution that may assume 1 of 5 values with nearly equal probability, this user has what type of distribution?

The historical data itself can be sampled from using Analytic Solver Platform's PsiDisUniform( ), PsiResample( ), PsiSip( ) or PsiSlurp( ) functions.

Using the information in Exhibit 12.1, what Analytic Solver Platform function should go in cell C8 and copied to cells C9:C19 to compute the average damage per car in the month?