Question details

15_MAT 540 - Quantitative Methods - Jet Copies - Case Study Analysis
$ 12.00

 

 

 

 

Read the “JET Copies” Case
Problem on pages 678-679 of the text. Using simulation estimate the loss of
revenue due to copier breakdown for one year, as follows:

 

1. In Excel, use a suitable
method for generating the number of days needed to repair the copier, when it
is out of service, according to the discrete distribution shown.

 

2. In Excel, use a suitable
method for simulating the interval between successive breakdowns, according to
the continuous distribution shown.

 

3. In Excel, use a suitable
method for simulating the lost revenue for each day the copier is out of
service.

 

4. Put all of this together to
simulate the lost revenue due to copier breakdowns over 1 year to answer the
question asked in the case study.

 

5. In a word processing
program, write a brief description/explanation of how you implemented each
component of the model. Write 1-2 paragraphs for each component of the model
(days-to-repair; interval between breakdowns; lost revenue; putting it
together).

 

6. Answer the question posed in
the case study. How confident are you that this answer is a good one? What are
the limits of the study? Write at least one paragraph. 

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