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

Ask an Expert

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

Write your message here..

Related Questions

Multivariate statistical methods, As one of the oldest multivariate stati... As one of the oldest multivariate statistical methods of data reduction, Principal Component Analysis (PCA)simplifies a dataset by producing a small number of derived

Types of correlation, Type of Correlation 1.      Positive and Negat... Type of Correlation 1.      Positive and Negative Correlation: 2.      Simple Partial and Multiple Correlations. 3.      Linear and  Non linear or Correlations

Determine best estimates of the population mean and variance, Question: ... Question: (a) A normal distribution is thought to have a mean of 50. A random sample of 100 gave a mean of 52.6 and a standard deviation of 14.5. A significance test was carri

Determine the matrix of the transformation, Consider the linear transformat... Consider the linear transformation (a) Find the image of (3 , -2 , 2) under T. (b) Does the vector (5, 3) belong to the range of T? (c) Determine the matrix of the transf

Hydraulic actuator design matrix, The range of actuator design parameters h... The range of actuator design parameters have been provisionally assessed and are presented in Table (3). You are required to determine the following parameters: The circumfer

Sampling, ghjkg ghjkg

Redundancy analysis, In reduced rank regression (RRR), the dependent var... In reduced rank regression (RRR), the dependent variables are first submitted to a PCA and the scores of the units are then used as dependent variables in a series of

Non-sampling errors, Statistics Can Lead to Errors The use of st... Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i

Utility index , If the economy does well, the investor's wealth is 2 and if... If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest

Forward selection model, how to find mse from ssr table not the anova table... how to find mse from ssr table not the anova table