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Prepare Spreadsheet Model:
Greg has started a ginger ale stand. He has invested $400 in ginger ale equipment and his unit cost of producing a cup of ginger ale is $2.50. He needs to decide the price to charge for a cup of ginger ale.
a) Prepare the base case spreadsheet model assuming the base case unit price to be $4 and determine how many cups of ginger ale must Greg sell to generate a profit of $300.
b) How many cups must he sell to breakeven?
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Tom and Huck are painting a fence together. Tom and Huck both start paintingat the same time, but lazy Huck stops working after Y hours, where the randomvariable Y is uniform on (0, 1). Diligent Tom then finishes the job at the X, wherethe condit..
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