Customer Service Chat
Get quote & make Payment
JET Copies Case Problem, Applied Statistics
Read the “JET Copies” Case Problem on pages 678-679 of the text. Using simulation estimate the loss of revenue due to copier breakdown for one year, as follows:
1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown.
2. In Excel, use a suitable method for simulating the interval between successive
breakdowns, according to the continuous distribution shown.
3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of service.
4. Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study.
5. In a word processing program, write a brief description/explanation of how you
implemented each component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it
6. Answer the question posed in the case study. How confident are you that this answer is a MAT540 Student Version 201005 Page 6 of 19 good one? What are the limits of the study? Write at least one paragraph.
There are two deliverables for this Case Problem, the Excel spreadsheet and the written
description/explanation. Please submit both of them electronically via the dropbox
Posted Date: 1/26/2013 8:23:35 PM | Location : United States
Ask an Expert
Your posts are moderated
Write your message here..
Mean absolute deviation, Mean Absolute Deviation To avoid the problem o...
Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by
Importance and application of probability, Importance and Application of pr...
Importance and Application of probability: Importance of probability theory is in all those areas where event are not certain to take place as same as starting with games of
Normal distribution, Normal Distribution Meaning: According to ya Lu...
Normal Distribution Meaning: According to ya Lun Chou There perfectly smooth and symmetrical curve, resulting from the expansion of the binomial (p+q) n when n approac
Introduction to probability, Introduction to Probability A ...
Introduction to Probability A student is considering whether she should enroll in an MBA educational program offered by a well-known college. Among othe
Schedule, Schedule Schedule is also used for the collection of primary ...
Schedule Schedule is also used for the collection of primary data. A schedule is a list of question. it is a device of obtaining answer to the questions in a form which is fill
Calculation of degrees of freedom, Calculation of Degrees of Freedom Fi...
Calculation of Degrees of Freedom First we look at how to calculate the number of DOF for the numerator. In the numerator since we calculate the variance from the sample means,
Estimation, what do we mean by critical region
what do we mean by critical region
Regression model, A real estate agency collected the data shown below, wher...
A real estate agency collected the data shown below, where y = sales price of a house (in thousands of dollars) x 1 = home size (in hundreds of square f
Find the probability customers pay their bill in full, The proportion of Am...
The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment. (a) In a random
Determine probability that the person tested has the disease, There are two...
There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Terms & Conditions
Copyright by ExpertsMind IT Educational Pvt. Ltd.