|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 suitable method for simulation 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 questions asked in the case study.|
|5. In a 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.|
|There are two deliverables for this Case Problem, the Excel spreadsheet and the written description/explanation. Please submit them both.|
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