Professor Eckstein

For the rest of the term the term, I will ask for "standard printouts" of your YASAI simulation models.

These standard printouts are similar to the standard printouts for optimization models, but there are some differences.

Simulation
standard printouts should consist of *three* sheets.

The first sheet is a
*values* printout of your spreadsheet, showing your model as it normally
appears on the screen. Note that the numbers shown on this printout
reflect the outcome of a single recalculation of the spreadsheet, that is, a
sample of size 1. That means it doesn't tell you what the best answer is,
the way the values printout does for an optimization model -- it's just a single
possible realization of what might happen.

The next sheet is a formulas printout of your spreadsheet model, with each cell showing a formula rather than a value. Unlike for optimization models, it is not necessary to put annotations on this sheet.

For simulations that contain large numbers of similar rows, it is OK to omit the repetitive rows from the values and formulas sheets by truncating the printout or using the "hide rows" command (Format -> Row -> Hide in Excel 2003, Home->Cells->Hide & Unhide->Hide Rows in Excel 2007).

Both the values and formulas printout sheets should have row and column headings (A, B, C, ... along the top and 1, 2, 3, ... along the side; use File->Page Setup->Sheet in Excel 2003, Page Layout->Page Setup->Sheet in Excel 2007).

The third sheet is the YASAI simulation output report for your model. You should omit all the information to the right of "standard deviation". There are two possible ways to accomplish this:

- You may select the cells that you want to print, Select File -> Print in Excel 2003 or Office button->Print->Print in Excel 2007, and then click "Selection" under "Print What"
- Or you can select the area you want to print, and choose File -> Print Area -> Set Print Area in Excel 2003, or Page Layout->Print Area->Set Print Area in Excel 2007.

To the output report printout, you should add annotations indicating the answer to whatever questions were posed in the homework problem. These annotations may be done by hand or in Excel. An example annotation: "Scenario 5 has the highest average profit, and corresponds to a stocking level of 75. Therefore I would recommend stocking 75 calendars to achieve the highest expected profit."

Note that, due to the random nature of these simulations, it is possible for two people with correct solutions to get slightly differing answers for things like average profit or average cost. Generally, however, you should get the same choice for the optimal strategy unless there are two choices that are very close in average profit/cost.

**Points will be deducted if you fail to follow these guidelines.**