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
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
Write your message here..
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
Estimate the values of the dependent variable, 1. Suppose you are estimatin...
1. Suppose you are estimating the imports (from both the U.S. mainland and foreign countries) of fuels and petroleum products in Hawaii (the dependent variable). The values of the
Harmonic mean, The Harmonic Mean is based on the reciprocals of numbers ave...
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
Assignment, worked model
Correlation coefficient, Consider three stocks A, B and C costing $100 each...
Consider three stocks A, B and C costing $100 each. The annual returns on the three stocks have mean $5 and variance $10. a. Suppose that the returns on the three stocks are i.i
Disadvantages of median, Disadvantages For calculating median it is ...
Disadvantages For calculating median it is necessary to arrange the data; other averages do not need any arrangement. Since it is a positional average, its value is not d
The sum of mean and variance, the sum of mean and variance ofabinomia distr...
the sum of mean and variance ofabinomia distribution of 5 trials is 9/5, find the binomial distribution.
Sampling error , Sampling Error It is the difference between the value...
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
Asymmetric proximity matrices, Asymmetric proximity matrices Immediacy...
Asymmetric proximity matrices Immediacy matrices in which the off-diagonal elements which are, in the i th row and j th column and the j th row and i th column, are not essent
Distribution of sample means, 1. Use the concepts of sampling error and z-s...
1. Use the concepts of sampling error and z-scores to explain the concept of distribution of sample means. 2. Describe the distribution of sample means shape for samples of n=36
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.