Assignment 1 - Quantitative Methods

JET Copies Case Problem page 1

Assignment #1: JET Copies Case Problem

By: Jenna Kiragis

Quantitative Methods 540

7/29/2012

JET Copies Case Problem page 2
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.
Lost revenue of Jet Copies due to breakdown can be done by generating random numbers from different probability distributions according the given probability law.
1. Simulation for the repair time.
|Repair Time (days) |Probability |
|1 |0.2 |
|2 |0.45 |
|3 |0.25 |
|4 |0.1 |

The generated random number 0.2 take repair time = 1. If the generated random number is 0.2 to 0.65, the repair time will be 0.2. The random generated number of 0.65 and 0.90, we take repair time = 3 and take 4 otherwise.
In Excel, use a suitable method for simulating the interval between successive breakdowns, according to the continuous distribution shown.
2. Simulation for break-down Distribution f(x) =x/18 0 < x < 6 the distribution function of x is F(x)=x2/36 0 < x < 6between 0 and 1, then we can write r1= x2/36
In Excel, use a suitable method for simulating the lost revenue for each day

References: Taylor, B. M. (2010). MAT540: Quantitative methods: 2010 custom edition. Upper http://www.statisticalforecasting.com/forecasting-methods.php