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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?
Consider the following: An economy is found to have output, y = 20000 Also assume that the government runs a deficit where tax revenue T= 4000 and government expenditures G=5000
For the United States, the mean monthly Internet bill is $32.79 per household (CNBC, January 18, 2006). A sample of 50 households in a southern state showed a sample mean of $30.63
An investment promised a payoff of $195 two and a half years from today. At a discount rate of 75% per year what is the present value of this investment? A. 169.47 B. Not enoug
A monopoly is broken into a number of competitive parts. Predict the changes in output and price which are likely to take place. Making the basic assumptions that, 1) The i
In 2004, Olentangy health care cost of capital was 6%. Its investments on a historical cost valuation basis are $80,000; on a replacement cost basis are $100,000. And on a current
Ask question #Minimum 100 words accepted I need help with homewok
OPEC oil cartel becomes subject to this tension or conflict such that the cartel gives way to a more competitive oil market resulting in a dramatic decrease in the world oil price.
A recent article in the Cincinnati Enquirer reported that the mean labor cost to repair a heat pump is $90 with a standard deviation of $22. Montes plumbing and Heating Service com
ihave real gdp per capita for all countries in world .. how can i calculate world real gdp per capita by using the data.
Assume that an economy's GDP Y=5000. Also assume that the government runs a deficit where tax revenue T=1000 and government expendituresG= 1500. The consumption function is represe
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