April 2016
Intermediate to advanced
284 pages
9h 26m
English
book
Practical Spreadsheet Risk Modeling for Management
by Dale Lehman, Huybert Groenendaal, Greg Nolder
Content preview from Practical Spreadsheet Risk Modeling for Management
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216 Practical Spreadsheet Risk Modeling for Management
The no-control strategy (Strategy 1) is clearly not the best approach, but the
mean-control strategy and Littlewood’s Rule strategy appear to produce sim-
ilar results. The median revenue for Littlewood’s Rule (Strategy 3) is slightly
greater than for the mean-control strategy (Strategy 2), although it appears
to be somewhat more variable.
*
The results for the number of empty seats
under each strategy are shown in Figure7.5.
Strategy 3 has more empty seats than Strategy 2, but earns slightly higher
revenues. This is due to the increased number of Y class passengers that
it allows. But ...
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