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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?
Introducing the Foreign Trade Sector Most economies in the real world are open economies. They engage in trade with other economies. Goods and services are exported and import
neoclassical
If the marginal disutility of labor increases, the equilibrium real wage increases and the equilibrium quantity of labor goes up. True or false?
Use the information below to calculate the numbers instead of "?" marks in the Table. Show and explain all your calculations?
the whole explanation of dpd
In the heckscherohlin model, a decrease in the factors of production required to produce rice and beans would: a. shift the production possibilities frontier for rice and beans
Q. Describe about Capital? By capital we characteristically mean manufactured goods which are used to produce other services and goods though aren't used up in the production p
Two people are engaged in a joint project. If each person i puts in the effort x i , the outcome of the project is worth f ( x 1, x 2). Each person's effort level x i is a
Problem: Describe whether, the given statements (a-f) are True, False or Uncertain. Briefly justify our answer. Questions (g) - (h) show all your calculations. No marks will be
nature, development and function of money.
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