User Account

All Pages

Simulated average failures and the expected value of failure

Assignment Help Business Management
Reference no: EM133215567

Edward Owen is responsible for the maintenance, rental, and day-to-day operation of several large apartment complexes on the upper east side of New York City. Owen is especially concerned about the cost projections for replacing air conditioner (A/C) compressors. He would like to simulate the number of A/C failures each month. Using data from similar apartment buildings he manages in a New York City suburb, Clark establishes the probability of failures during a month as follows:

Number of A/C Failures Probability

0 0.10
1 0.17
2 0.21
3 0.28
4 0.16
5 0.07
6 0.01

(a) Simulate Owen's monthly A/C failures for a period of three years. Compute the average number of failures per month.

(b) Explain any difference between the simulated average failures and the expected value of failures computed by using the probability distribution.

Show simulation in excel

Reference no: EM133215567

Questions Cloud

Issue influence of healthcare management : How United States in global population me react differently to healthcare issues and how that would in fact healthcare management efforts(how does geography aff
Find two quantitative variables in a business setting : Find two quantitative variables in a business setting that would be appropriate to conduct a correlation and/or regression analysis. An example might be the squ
Understanding of engaging ethics : Approaches. Among the primary approaches of ethics, which do you find best expresses your understanding of engaging ethics, and why?
Issues in establishment of railway city brewing company : Write down the executive summary of most important issues in the establishment of Railway City Brewing Company in Maryland and Minnesota, present the decision w
Simulated average failures and the expected value of failure : Edward Owen is responsible for the maintenance, rental, and day-to-day operation of several large apartment complexes on the upper east side of New York City.
Catholic vision of unity in diversity : W.E.B. Du Bois once claimed that "the problem of the twentieth century is the problem of the color-line." In light of the Catholic vision of unity-in-diversity
Explain the luxury goods industry : Branding is one of the most powerful tools an entrepreneur can add to their marketing arsenal. While often overlooked, effective branding can ultimately serve a
Describing the canadian culture : Single-spaced paper describing the Canadian culture and comparing it with the Nigerian culture. This paper should reflect your thoughts on Canadian values and h
Think about the organizational strategies : Think about the organizational strategies, processes and procedures that have enabled them to balance these apparently conflicting goals.

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd