Reference no: EM132095246

Model the following situation using Simio Processes:

Two types of customers called BigBucks and LittleBucks arrive to a store. BigBucks arrive individually according to a Poisson process with mean rate 2 per hour, with the first arrival occurring approximately 15 minutes after the store opens (although the actual time of arrival is exponentially distributed). BigBucks stay in the store between 15 and 30 minutes and the average amount spent by BigBucks is $300 with a standard deviation of $150, although BigBucks never spends less than $100. LittleBucks arrive in pairs by car and car arrivals occur according to a Poisson process with a mean rate of 10 per hour, with the first arrival occurring when the store opens. LittleBucks stay in the store between 10 and 20 minutes and the amount spent by LittleBucks may be as low as nothing or as high as $100, but most often LittleBucks spend $40. (Although Little Bucks always arrive in pairs, they operate independently from one another.)

The store opens at 8:00 AM daily and remains open 8 hours per day. At the end of 8 hours, the store is closed and those in the store at closing do not spend any money. What is the average number of people in the store throughout the day? What is the average revenue collected each day? What is the average amount spent per person (ignoring the customer type) leaving the store? What is the mean time spent in the store per customer? How many customers are there on an average at noon every day? Base your estimates on 30 days (i.e., 30 replications with each replication length being 8 hours