Complete the simulation model for Paw Palace Pet Clinic to access the economic benefits to be obtained by hiring a veterinarian assistant:

Complete the formulas for waiting times and annual profit for a model with vet assistant in tab “Current and New Model C”. In @Risk, use Triangular distribution to simulate service times.  Use 5, 15, and 35 minutes respectively as parameters.

Compute the change in annual profit to be obtained by hiring a veterinarian assistant. Designate the change in annual profit as an output in @Risk

Obtain distribution of the change in profit using 5000 iterations

Answer the following questions:

1. If Dr. Shulke were to hire vet assistant, hence, improving service time, how do outputs “1” – “4” in above (Assignment Week 3) change?

2.     Analyze the distribution of the change in profit in terms of expected profit and risk (Hint: use percentiles and median).

3.     What would customers perceive regarding wait times above, compared to before the new hire?  Would the clinic be able to improve customer retention and grow business?  Discuss pros and cons of hiring vet assistant.

Write a management report (using the required format) suggesting and justifying an appropriate recommendation to the Dr. Schulke.