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.
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
together).

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







Related Discussions:- JET Copies Case Problem, Assignment Help, Ask Question on JET Copies Case Problem, Get Answer, Expert's Help, JET Copies Case Problem Discussions

Write discussion on JET Copies Case Problem
Your posts are moderated
Related Questions
In a study of outcomes for patients who had been in the Intensive care Unit (ICU) at a large hospital, the records from last 150 patients who had been in the ICU for more than one

A file on DocDepot in the assignments folder on doc-depot called bmi.mtp contains data on the Body Mass Index (BMI) of a population of Ottawa residents. The first column identifies

Examples of grouped, simple and frequency distribution data

10. If a set of scores has a sample mean of 25 and a sample variance of 4, find the following: a. the z-score for a raw score of 31 b. the z-score for a raw score of 18 c. the raw

Question: (a) Shale Oil, located in the island of Aruba, has a capacity of 600,000 barrels of crude oil per day.  The final products from the refinery include two types of unle

Chi-square analysis can be used with both Goodness-of-Fit Tests and with Tests for Independence. There are specific instances when each test should be used based on the information

For the following questions we are interested in a comparison of the 16 years education vs. > 16 years. (Recall we did the analysis on the log scale, so these are actual means on t

Flow Chart for Confidence Interval We can now prepare a flow chart for estimating a confidence interval for μ, the population parameter. Figure

Consider the sample of 60 package design ratings given in the table below.                                    A Sample of Package Design Ratings                 (Composite S

For many decades, there has been considerable attention paid to identifying various factors that help to reduce the number of fatalities on Australian roads. In 1964 Victoria and S