# Case Study

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Submitted By vinuktha
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Gentle Lentil Case Solutions
Following information is provided in the case which will be used in following three solutions:

Seating Capacity of the restaurant = 50
Non-Labor fixed cost (per month) = \$3,995
Variable cost of food (per meal) = \$11

There are three uncertain variables that tend to dominate the Profit:

Number of meals sold (per month)
Fixed Labor cost (per month)
Revenue (per meal) follows a discrete distribution as below:

Scenario
Very Healthy Market
Healthy Market
Not so Healthy Market
Unhealthy Market

Price
\$20
\$18.50
\$16.50
\$15.00

Probability
0.25
0.35
0.30
0.10

Solution 1:
We need to run the simulation to find the expected salary of Sanjay at Gentle Lentil if he doesn’t consider the partnership scheme. Here,

Since, No. of meals sold and Revenue per meal are independent hence we can write:

Following is the Simulation result from @Risk which can be verified by analytical solution above and it comes out to be fairly close:

The expected salary of Sanjay with no Partnership in Gentle Lentil Restaurant will be \$10,873.76 with a standard deviation of \$8,781.84. The 95% confidence interval is
.
Since, he is the owner so total revenue will be his earnings (Salary).

Expected Salary
Maximum Salary
Minimum Salary
P(Salary \$9000

Sanjay’s Salary
\$3500
Total Revenue
\$9000 + 10% of (Total Revenue - 9000)

The expected salary if Sanjay opt for partnership with his Aunt is \$7,736.23 and Standard deviation is \$2,731.85 with 95% confidence interval as (7566.89, 7905.57).
Although in this case, the expected salary and the maximum salary is less as compared to what he was expecting if he doesn’t go for partnership but now he is covered for losses and salary of
\$3500 is guaranteed against 20.7% times going below \$3500 without having partnership.

Expected Salary
Maximum Salary

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