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Car Demand Simulation Solution

The document outlines a simulation of car rental demand over five days based on observed patterns. It details the number of cars rented and the corresponding days, along with random numbers used for the simulation. To meet a 75% probability of fulfilling demand, the operator should have at least 10 cars available for rental.

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Nikhil Kumar Yadav
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25 views1 page

Car Demand Simulation Solution

The document outlines a simulation of car rental demand over five days based on observed patterns. It details the number of cars rented and the corresponding days, along with random numbers used for the simulation. To meet a 75% probability of fulfilling demand, the operator should have at least 10 cars available for rental.

Uploaded by

Nikhil Kumar Yadav
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

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(b) The following was the pattern for demand of cars rented out by a tourist operator
observed for 100 days:
No. of cars 5 7 10 15
No. of days 20 30 40 10
The random numbers are 88, 76, 10, 05, 23
:
Required
(i) Simulate the demand for cars over five days.
(i) How many cars should the operator have in order to have at least 75% probability
of fulfilling the demand based on your simulated results ? 5+3=8
answer: 6(b)
No. of No. of Probability Cumulative Random Day Random Demand
Cars Days Prob No. No.
Interval
5 20 0.20 0.20 00-19 88 10
7 30 0.30 0.50 20-49 2 76 10
10
40 0.40 0.90 50-89 3 10 5
15 10 0.10 1.00 90-99 4 05 5
5 23 7
a
(1) (1) (1)

(0) For 75% or more probability, we need more than 3 days when demand is fulfilled
i.e. 3/5 = 60%. Therefore at least 4 days' demand is fulfilled.

(ii)l In this Case 10 cors when there is a 100% chance of al demgnd being f ulfilled

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