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.
Airline Overbooking Problem:
Parameters:
Seats 100
Booking Limit 100
Ticket Price $150
Food and fuel Cost $30
Arrival Probability 0.95
Overbooking Penalty $300
Fixed Cost $8,000
Calculations
Total Arrivals
Seats Used
Turned Away
Revenue
Variable Cost per seat
Fixed Cost
Refund Cost
Overbooking Cost
Total Cost
Profit
Probility of 95 or fewer people
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