Mat 540 Assignment 1 Jet Copies

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Running head: ASSIGNMENT 1 JET COPIES Assignment 1- Jet Copies Dr. Joseph MAT 540 October 20, 2012 1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. Days-to-repair: If you assume that the number of days needed to repair a copier is random, you can generate a random number denoted r2 between 0 and 1: 0 < random value < 0.2, then it takes 1 day0.2 < random value < 0.65, then it takes 2 days0.65 < random value < 0.90, then it takes 3 days0.9 < random value < 1, then it takes 4 days. 2. In Excel, use a suitable method for simulating…show more content…
Also, the amount of time doesn't…show more content…
In a word processing program, write a brief description/explanation of how you implemented each component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it together). The amount of revenue lost can be found by looking at how many days it takes to repair, and then multiplying that number by the amount of customers you may have received on a given day multiplied by the amount of copies they produced. The time between breakdowns will tell you how often this occurs, and the sum in weeks is not to exceed 52 (since there are 52 weeks in year. 6. Answer the question posed in the case study. How confident are you that this answer is a good one? What are the limits of the study? Write at least one paragraph. Buying an extra copier would probably be a good choice, since the amount of revenue lost almost doubles (US$17,805.50 vs. US$8,000.00) the cost of buying an extra copier. I feel confident with my answer, although there are some limitations to it. As was mentioned before, the sum of the weeks will not always add up to 1 years’ worth, so that needs to be taken into account. Also, this simulation must be run several times to find the average amount

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