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1. At a carnival, the carousel ride has a problem with keeping the mechanical horses working. Repair technicians can be hired at a rate of $30 per hour, while working as only one team. This means the technician will work alone. If two or more techs are hired they work together on the same job. One technician can fix a horse in an average time of 20 minutes with standard deviation of 20 minutes. Two techs can fix a disabled horse in an average time of 15 minutes with standard deviation of 15 minutes. When a horse is down lost income is $50 per hour. Horses tend to break down at the rate of 2 per hour with the time between two consecutive breakdowns following an exponential distribution. If the carnival has the option of hiring one or two repairers, which option should the company choose?2. Jack Jones is looking at buying a new cell phone plan and found one called "You Decide Your Minutes" Under this plan he would choose a quantity of minutes, say x, per month that she would buy at 5 cents per minute. Hence, his upfront cost would be $0.05x. If his usage is less than this quantity x in a given month, he loses the minutes. If his usage in a month exceeds this quantity x, he would have to pay 40 cents for each extra minute (that is, each minute used beyond x). For example, if he contracts for x=120 minutes per month and his actual usage is 40 minutes, his total bill is $120 x 0.05 = $6.00. However, if actual usage is 130 minutes his total bill would be $120 x 0.05 + (130 -120) x 0.40 = $10.00. Jack estimates that his monthly needs are best approximated by the Normal distribution with a mean of 250 minutes and a standard deviation of 24 minutes. How many minutes should he contract for?
The latest economic news was not very positive. Unemployment rates were higher than expected, consumer confidence had fallen
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The school cafeteria can make pizza for approximately $0.30 a slice. The cost of kitchen use and cafeteria staff runs about $200/day. The Pizza Den nearby will deliver whole pizzas for $9.00 each.
Describe in your own words the best leader you ever had and why? Be specific in your answers as to the impact this leader
Edwards Manufacturing Company purchases two component parts from three different suppliers The suppliers have limited capacity, and no one supplier can meet all the company's needs
What is the probability that the project tilll take longer than 46 weeks? The project manager wishes to set the due date for the completion of the project so that there is a 90% chance of finishing on schedule. Thus, there would only be a 10% chan..
The president of a small manufacturing firm is concerned about the continual growth in manufacturing costs in the past several years. The data series of the cost per unit for the firm's leading product
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