Replications would be required to obtain absolute error

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For the small factory of Example 9.25, suppose that the system operates 24 hours a day for 5 days and then is completely cleaned out. Thus, we have a terminating simulation of length 120 hours. Make fi ve independent replications and construct a point estimate and 95 percent confi dence interval for the mean weekly throughput. Approximately how many replications would be required to obtain an absolute error of 50? A relative error of 5 percent?

Reference no: EM132156520

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