A certain type of machine breaks down at an average rate of 5/hour. the break down is in accordance with Poisson process.cost of idle machine hour is $15/hour. 2 repairmen Peter and John have been interviewed, Peter charges $8/hour and services break down machines at the rate of 7/hour. John charges $10/hour and services the machine at an average rate of 9/hour. Which repair man should be hired and why?

Posted Date: 2/21/2013 8:21:45 AM | Location : Nigeria

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