I am having a hard time getting this set up. Any help would be appreciated. I know how to get Crystal Ball to run..but have problems doing the initial spreadsheet setup.
We have an airline trip from point A to point B.
Tickets sell for $150
Plane holds 100 people
Each seat incurs $30 variable cost
$8000 to cost an empty plane to fly
95% of reservations show up
Overbooking penalty is $300
Can overbook up to 110 per plane
I am trying to set up an excel model with Crystal Ball Sensitivity to track the following:
1) Average number of customers turned away
2) Average profit per flight
3) Average number of seats occupied
4) Probability that 95 or fewer seats are occupied
I would like to run the model with for 10,000 trails with 100 seats being booked
Did you not want an excel solution for this? I am not sure what is crystal ball. ...
The expert examines Excel simulation models using crystal ball sensitivity. The overbooking penalty is determined for the price of seats.