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
Try different numbers of clusters in your program (K=2...15) and build a plot that shows the dependency between number K and value of RSS function on the last iteration. What is th

who invented the chi square test and why? what is central chi square and non central chi square test? what is distribution free statistics? what are the conditions when the chi squ

prove standard deviation of natural natural numbers

For the data analysis project, you will address some questions that interest you with the statistical methodology we are learning in class.   You choose the questions; you decide h

Muti linear regression model problem An investigator is studying the relationship between weight (in pounds) and height (in inches) using data from a sample of 126 high school

Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump

There exists an unclassified data set with hidden data structures in it. The task in this assignment is to perform comprehensive Cluster Analysis in order to reveal the structures

A.    Do the correlation matrix table. B.    Which variable (s) has the largest correlation coeffieient which is not a perfect correlation? C.    Which variable (s) has the s

Framing of Questionnaire: Questionnaire is a schedule of questions which is sent to the respondents for filling in by them in their own handwriting together the information rel

Range Official Exports Target 2000-2001 Product ($ million) Plantation 500 Agriculture and Alli