Explain what is the long-term probability, Operation Management

Assignment Help:

A copy machine is always in one of two states, either working or broken. If it is working, there is a 70% chance that it will be working tomorrow. If it is broken, there is a 50% chance it will still be broken tomorrow. Assume that one day is a natural time step.

(a) Draw a state diagram for the process and formulate the transition matrix

(b) Assuming the machine is working today, what is the probability that it will be working tomorrow? After one week? After one month?

(c) What is the long-term probability that the copy machine will be working on any given day?


Related Discussions:- Explain what is the long-term probability

Describe why firms conduct marketing research, Why do successful firms cond...

Why do successful firms conduct marketing research for their product and services?

Explain what is economic justification for the rapid growth, What is the ec...

What is the economic justification for the rapid growth of premium package services?

Explain the framework of the general model of planned change, Describe the ...

Describe the framework of the general model of planned change. Include a discussion of each activity and a typical sequence of events.

Explain when quality discounts are introduced, When quality discounts are i...

When quality discounts are introduced, will optimum order quantity be made smaller, unchanged, or larger? Illustrate by using a numerical example.

Explain what is economic value added, Spencer Inc. has the following inform...

Spencer Inc. has the following information for the current year: Net income = $600; Net operating profit after taxes (NOPAT) = $500; Total assets = $4,000; Short-term investments =

Explain effective applications, "Effective Applications" Please respond to ...

"Effective Applications" Please respond to the following: •Discuss the types of organizational culture changes (especially within the medical staff) that will have to take place in

Explain select one and critique its content, Conduct a search of websites t...

Conduct a search of websites that provide Internet presentations. Select one and critique its content, visuals, and the presenter's skills. Make sure to include the URL in your Dis

Explain strategic information systems, Search the Web for an article on str...

Search the Web for an article on strategic information systems in general, or a particular case of a strategic information system. Summarize the article and mention in your report

Why a project manager desires a work breakdown structure, A project manager...

A project manager desires a work breakdown structure that goes through 6 levels of detail. Level 3 through level 6 would most likely be prepared by: Answer Project sponsor

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