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Suppose that at any period of time a photo-copier machine can either be working properly, in need of maintenance, in need of minor repair, or in need of major repair. If the photocopier is working, the chances that it will require maintenance, minor repair, or major repair in the next time period are respectively 0:15, 0:05, 0:03. Assume that the probability that the maintenance is successfully done in the next period is 1, the probability that the minor repair is successfully done in the next period is 0:8, and the probability that the major repair is successfully done in the next period is 0:5. Construct a Markov Chain and its steady-state probabilities that would allow you to answer the following question: If the owner of the photocopier has to pay $10 for every period that it is not working properly, what is the expected cost per period of the photocopier?
An industrial plant needs to make 100,000 parts per month to meet demand. Each month contains 20 working days, each of which allows for 3 separate 8 hour shifts. a. If a worker can
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Katie is a 17-year-old (a minor) who graduated from high school two months ago. In August, she started attending a university 150 miles from home and has contracted to rent an apar
Sales of vegetable dehydrators at Bud Banis'' discount department store in St. Louis over the past year are shown below. Management prepared a forecast using a combination of expon
How can a CIO could best leverage an RHIO
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Eric johnson determines his costs to be as follows labor $10 dollars per hour Resin $5 per pound cpital expense : 1% per month of investment show the percent change in productivi
How the job of industrial manager becomes more difficult? However, the job of industrial Manager becomes still more difficult because of: (i) Change in technology; (ii) C
HOW TO SOLVE SEQUENCING PROBLEM FOR N-JOB AND M-MACHINES
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