Construct a markov chain and its steady-state probabilities, Operation Management

Assignment Help:

Suppose that at any period of time a photo-copier machine can either be working properly, in need of maintenance, in need of minor repair, or in need of major repair. If the photocopier is working, the chances that it will require maintenance, minor repair, or major repair in the next time period are respectively 0:15, 0:05, 0:03. Assume that the probability that the maintenance is successfully done in the next period is 1, the probability that the minor repair is successfully done in the next period is 0:8, and the probability that the major repair is successfully done in the next period is 0:5. Construct a Markov Chain and its steady-state probabilities that would allow you to answer the following question: If the owner of the photocopier has to pay $10 for every period that it is not working properly, what is the expected cost per period of the photocopy


Related Discussions:- Construct a markov chain and its steady-state probabilities

Explain generating positive organizational behaviour, One of the constants ...

One of the constants in organizations is the presence of change. In almost all change scenarios, human behaviour is impacted. However, organizational members often resist change. W

Explain what is cross-functional decision making process, What is cross-fun...

What is cross-functional decision making process, strategy model, and supply chain?

Opreation research modeling, Comment on this " model building is th...

Comment on this " model building is the excess of operation research

Discuss factors are vital for the success, Selecting the right projects ...

Selecting the right projects Selecting the right parteners Providing an effective leadership Discuss why these factors are vital for the success of international construct

Explain how will you account for any wastage, You are the branch operations...

You are the branch operations manager for a leading manufacturing company. The following are the bill of materials (BOM), Master Production Schedule, and Inventory Record Sheet for

Explain growth and globalization strategies, Given Pitney Bowes' growth and...

Given Pitney Bowes' growth and globalization strategies, analyze the forces for and against maintaining an organizational culture that supports diversity as a business imperative

Explain the first step in segmenting and targeting markets, The first step ...

The first step in segmenting and targeting markets is to recognize a need. group potential buyers into segments. create product groupings. estimate size of the overall

Explain job evaluation, Explain Job Evaluation. A combination of short ...

Explain Job Evaluation. A combination of short statements which describe both the necessary requirements of the particular job and the work to be performed is termed as Job Eva

Describe financial leverage and give two examples, Define financial leverag...

Define financial leverage and give two examples to support your definition?

Operation management, operation management of productivity math and solutio...

operation management of productivity math and solution sheet

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd