Compute the expected running costs

Assignment Help Management Information Sys

Reference no: EM131162873

A company is going to hire a repairman to look after four identical unreliable machines. The machines break down randomly according to a Poisson process of mean rate of 3 per day.

The non-productive time of any machine costs the firm 200 dollars per day. The firm can hire a slow, cheap repairman charging 500 dollars per day who repairs at an average rate of 4 machines per day.

Alternatively the firm can hire a fast, experienced repairman charging 1; 000 dollars per day who repairs at an average rate of 5 machines per day.

In either case repair time is assumed to be exponentially distributed. Compute the expected running costs in both cases and determine which repairman should be hired.

Reference no: EM131162873

Questions Cloud

Draw a behavioral state machine diagram : Draw a behavioral state machine diagram that describes the various states that a travel authorization can have through its approval process. A travel authorization form is used in most companies to approve travel expenses for employees.

Create the use case diagram for the pru system : Create the use case diagram for the PRU system. Choose one use case diagram and create a sequence diagram. Create a class diagram for the PRU system.

Construct a frequency distribution and display it as a table : Construct a frequency distribution and display it as a table and as a histogram.

Create the use case diagram for the otmc system : Create the use case diagram for the OTMC system. Choose one use case diagram and create a sequence diagram. Create a class diagram for the OTMC system. Create a behavioral state machine diagram to depict one of the classes on the previous class diagr..

Compute the expected running costs : Compute the expected running costs in both cases and determine which repairman should be hired.

Create the use case diagram for the library system : Create the use case diagram for the library system. Choose one use case diagram and create a sequence diagram. Create a class diagram for the library system.

Create a class diagram for the student admission system : Create a class diagram for the student admission system. An admissions form includes the contents of the form, SAT information, and references.

Write down the markov chain : Write down the Markov chain and the generator matrix for the states of this machine repairing model. - Find the steady-state probability pi that there are Pi broken machines in the system.

Develop a use case diagram for the new system : The new information system at Jones Legal Investigation Services will be developed, using objects. Develop a use case diagram for this new system.

User Account

All Pages