Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Stephanie Robbins is the Three Hills Power Company management analyst assigned to simulate maintenance costs. In Section 14.6 we describe the simulation of 15 generator breakdowns and the repair times required when one repairperson is on duty per shift. The total simulated maintenance cost of the current system is $4,320.
Robbins would now like to examine the relative cost-effectiveness of adding one more worker per shift. The new repairperson would be paid $30 per hour, the same rate as the first is paid. The cost per breakdown hour is still $75. Robbins makes one vital assumption as she begins-that repair times with two workers will be exactly one-half the times required with only one repairperson on duty per shift. Repair time Required (hours) probability 0.5 0.28 1.0 0.52 1.5 0.20 1.00
(a) Simulate this proposed maintenance system change over a 15-generator breakdown period. Select the random numbers needed for time between breakdowns from the second-from-the bottom row of Table 14.4 (beginning with the digits 69). Select random numbers for generator repair times from the last row of the table (beginning with 37).
b) Should Three Hills add a second repairperson each shift?
Money is generally considered to have three economic functions: A medium of exchange. This is its most significant role. Without money we would live in a barter economy wher
Consider an economy characterized by the following Cobb-Douglas production function: Y=4K 1/4 L 3/4 Where K and L represent physical capitaland labor, respectively. Assume t
Suppose that an individual stock's return is normally distributed with a mean of 11% and a standard deviation of 5%. What is the probability that the stock's return will be less th
Q. What do you mean by Gross domestic product? Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP): Gross Domestic Product (
How can a country maintain equilibrium GDP with foreign trade?
HOW INCOME TERMS OF TRADE DIFFER WITH COMMODITY TERMS OF TRADE"
An investor has a series of three $15,000 payments expected to be realized at the end of years three, four, and five. Calculate the present value P at time zero and the correspondi
Question 1: Discuss why living standards are higher in some countries than others. Question 2: (a) How is inflation measured? (b) What are the causes and consequence
Business Cycles Economic growth is not a continuous process. Superimposed on the long-term trends are short-term fluctuations in the levels of economic activity and\or in grow
Question 1: The common characteristics of LDCs include low GDP per capita, capital scarcity, high unemployment, chronic budget deficit, high levels of external debt, hig
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd