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

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
The median, as the name suggests, is the middle value of a series arranged in any of the orders of magnitude i.e. ascending or descending order. As distinct from the arithmetic

Advantages of Sampling Why should we settle on a sample instead of studying the entire population?  Sampling has the following advantages over a census (study of the entire pop

Need help on my maths assignment

Difference between Correlation and Regression Analysis 1. Degree and Nature  of Relationship: Coefficient of correlation measures   the degree  of covariance  between two vari

A.The coupon rate of Erie-Chicago Rail is 7%. The interest rate of Florida municipal bond with equal risk is 6%.  At what tax rate the two bonds are as good as each other B.Supp

Is the random vector (Trunk Space, Length, Turning diameter) of US car normally distributed? Why? If yes, find the unbiased estimators for the mean and variance matrix of (Trunk Sp

To compare three brands of computer keyboards, four data entry specialists were randomly selected. Each specialist used all three keyboards to enter the same kind of text material

Melissa Bakery is preparing for the coming thanksgiving festival. The bakery plans to bake and sell its favourite cookies; butter cookies, chocolate cookies and almond cookies. A k

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

Your organization purchases bottles of a popular commercial solvent for resale.  Each bottle is labeled as containing 32 fluid ounces of the solvent.  Your cont