Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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?
You have a choice between a lottery lump sum payout of $10,000,000 today or a series of 25 annual annunity payments the first payment will be one year from today ad a discount rate
You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia. A recent report indicates that nearly 50 Americ
Money is generally considered to have three economic functions: A medium of exchange. This is its most significant role. Without money we would live in a barter economy wher
Incentives Incentives designed to increase effort, reward enterprise and encourage saving and investment include: an emphasis on the effect of a reduction in the margi
What is the different between price effect and sales effect? Both relate to Elasticity and Total Revenue: a. A price effect: After a price raise, all unit sold sells at a hi
Stocks and Flows When studying economics, one must be sure whether the variable being studied is a stock variable or a flow variable. Failure to do so can cause faulty economi
1. Which function of money is disrupted as a result of high inflation? Why? 2. The central bank of Fiji has issued $1,000,000 in Fijian dollars. What is the size of m
Price Mechanism Price mechanism is the point, which equilibrates supply and demand within a market. It is a mechanism of pricing. The price mechanism is one, which permits the p
Explain the economy automatic stabiliser A budget deficit is shortfall between a government's tax revenue and its spending in a given year. If a government runs a budget defici
Which of the following statements regarding the heckscher-ohlin model and Ricardian trade theory is TRUE? a. Both the Heckscher-Ohlin and Ricardian models are current, relevant,
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd