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Operations Management Exam – Saturday, May 9th, 2015 OPERATIONS MANAGEMENT EXAM May 9th, 2015 EXERCISES (19 points) Exercise 1 (8 points) The Museum of Contemporary Art, in Milan, in view o f the opening of the new exhibition dedicated to “M agico Triplete Nerazzurro”, has decided to organize an in auguration evening open to the public where authori ties, personalities of the sport world and of the show business but also fans or simple curious people will be present. The director has decided to sell a total of 500 tickets for the participation at the event. He is sure he can maximize the profit of the event, which is obviously necessa ry to start to recover the huge investments done fo r the preparation of the exhibition, by offering 2 differ ent types of fees, a first one that is cheaper (200 €/ticket) and a second one that is more expensive (450 €/ticket). T he tickets of the cheaper fee will be sold until 30 before the event, while the ones of the more expensive fee wil l be sold starting from 29 days before the event un til the day before it. The director knows that, theoretically, it would be possible to sell all tickets at the che aper fee. The demand of the tickets for the more expensive fee is distributed like a Gaussian with a mean of 150 and a probability of 80% to sell a number of tickets between 110 and 190. Museum of Contemporary Art organized a dinner for t he night, which will be offered to all the particip ants of the event, in two restaurants in Milan: customers that bought the full price ticket will receive an invite for the prestigious “Inter I love you” restaurant and custo mers that bought discounted ticket will be expected in the “Milano nerazzurra” pizzeria. The museum will commu nicate the number of reservations and it will pay t he restaurants…