Equipment repair business where emergency jobs

Assignment Help Basic Statistics
Reference no: EM131912953

A manufacturing company operates an equipment repair business where emergency jobs arrive randomly at the rate of two jobs per 8-hour day. The company's repair facility is a single-server system operated by a repair technician. The service time varies, with a mean repair time of 1.6 hours and a standard deviation of 1.25 hours. The company's cost of the repair operation is $32 per hour. In the economic analysis of the waiting line system, the company uses $45 per hour cost for customers waiting during the repair process.

1) Arrival Rate

2) Service Rate

3) Lq (Avg. # of orders waiting)

4) L (Avg. # of units in the system)

5) Total Cost (Economic Analysis)

Calculate all 5 items above manually using formulas and showing your calculation work each step

Reference no: EM131912953

Questions Cloud

Portfolio current required rate of return : What is Dr. Francesco Totti portfolio's current required rate of return?
What is the comers tax liability : Matt and Meg Comer are married and file joint return. What is the Comers tax liability for 2016 if they report following capital gains and losses for the year?
What is the yield to call : The par value of the bonds is $1,000. If the yield to maturity is 7 percent, what is the yield to call?
What benefits and limitations do you predict : Review Hoover's report on the National Interstate Corporation by using the Business Market Research Collection in the LIRN (see full reference below).
Equipment repair business where emergency jobs : A manufacturing company operates an equipment repair business where emergency jobs arrive randomly at the rate of two jobs per 8-hour day.
How much is this deal presently worth to the investor : Assuming the investor's required rate of return is 10%, how much is this deal presently worth to the investor who was willing to sell??
Compute what amount of equity method would matthew recognize : Compute What amount of equity method income would Matthew recognize in 2015 from its ownership interest in Lindman?
Determine the current value of the company : Suppose the company can borrow at 8 percent. What will the value of the firm be if the company takes on debt equal to 60 percent of its unlevered value?
Description of firm and its management : Firm, Industry and Environment (please be brief, this IS a finance and accounting course not a history class!) Description of firm and its management.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Pearson lemma yields the critical region

A random sample of size n from a normal population with σ2 = 1 is to be used to test the null hypothesis μ = μ0against the alternative hypothesis μ = μ1, where μ1 > μ0. Use the Ney man-Pearson lemma to find the most powerful critical region of size α..

  Description of confidence interval estimate

How do I define the the population and select a simple random sample of size n from the population? A random sample of n=12 values taken from a normally distributed population resulted in the following sample value:

  State the population of given survey

State the population of this survey and some likely values from the population distribution. Also explain why you might expect this population distribution to be skewed to the right.

  What hypotheses will you test

According to one study, 21% of all college students nationwide identify themselves as politically liberal. You suspect this percentage may be different at Swarthmore. You plan a survey of first-year students to test your suspicion. What hypotheses..

  What is the probability of pulling out

Taking a set of chess pieces (2 Kings, 2 Queens, 4 Bishops, 4 Knights, 4 Rooks and 16 Pawns) and place them in a bag.

  Suggest a reason for the peak in womens length of stay

Describe these distributions by writing a few sentences comparing the duration of hospitalization for men and women.- Can you suggest a reason for the peak in women's length of stay?

  Proportion of households with two cars

A researcher wishes to estimate the number of households with two cars. How large a sample is needed in order to be 95% confident that the sample proportion will not differ from the true proportion by more than 4%? A previous study indicates that ..

  Find score of on the college entrance exam

A score of on the college entrance exam. Assuming that average refers to the mean, which of the following claims must be true based on this information?

  Define standard error of measurement

Define standard error of measurement. Describe its relationship to confidence intervals (you will need to define confidence intervals in your answer).

  Broad constructionalists

"Broad constructionalists" believe that modern sensibilities need to be brought into any analysis of the document and what it means and that the spirit, rather than the letter, of the document should be used in determining national laws and regulatio..

  Was reconstruction a success or a failure

Was Reconstruction a success or a failure? Be sure to provide details to explain your answer (Lincoln's plan)

  Proportion of test positive

Write a few sentences explaining why, in this scenario, the proportion of those who test positive for steroid use who actually use steroids is not .95.

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