Days-to-Repair
When determining the number of days needed to repair a copier, it is best to assume that the number of days is random. It is best to generate this random, which is illustrated on the excel spreadsheet as r2. R2 will be numbers between 0 and 1. To determine this value a random number will be generated in excel. The number of days needed to repair the copier will be determined based on the cumulative outline below:

0.00 > r2 < 0.20, then it will take 1 day;
0.20 > r2 < 0.65, then it will take 2 days;
0.65 > r2 < 0.90, then it will take 3 days; and
0.90 > r2 < 1.00, then it will take 4 days.
Intervals between Breakdowns
Intervals between breakdowns are a probability distribution. The variables will be random and range between 0 through 6 weeks. As the time continues, the probability will increase. To determine this number a function of x will be used, as illustrated.

F(x) = x/18, for 0 thru 6, where 'x' equals the weeks between machine breakdowns
F(x) = x2/36, for 0 thru 6, this is the distribution function that can be further simplified
r1 = x2/36, to simplify set the equation equal to r1
x = 6 * SQRT (r1), final equation.
Lost Revenue
Jet Copies demonstrates a uniform probability distribution as it pertains to the number of copies sold per day. The average sale is between 2,000 through 8,000 copies a day, at $0.10 a copy. This number is denoted on the excel spreadsheet as r3 by generating a random number between 2,000 and 8,000. To calculate the total amount of business lost on any given day, the following calculations utilized: Lost Revenue = repair time * r3 * 0.10

The total amount of lost revenue is $20,166.30. This number is not totally accurate, but is an approximation of lost. The amount will always change significantly because r1, r2, and r3 are numbers generated randomly. To get a close approximation the breakdown will have to consist of 365 to account...

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MAT540 MIDTERM EXAM
1. Deterministic techniques assume that no uncertainty exists in model parameters.
2. A continuous random variable may assume only integer values within a given interval.
3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously.
4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and...

...Question 1
. Parameters are known, constant values that are usually coefficients of variables in equations. Answer True False
2 points =T
Question 2
. In general, an increase in price increases the break even point if all costs are held constant.
. Answer True False
2 points =F
Question 3
. Fixed cost is the difference between total cost and total variable cost.
. Answer True False
2 points =T
Question 4
. Probabilistic...

...• Question 1
2 out of 2 points
Probabilistic techniques assume that no uncertainty exists in model parameters.
Answer
Selected Answer: False
Correct Answer: False
• Question 2
2 out of 2 points
Parameters are known, constant values that are usually coefficients of variables in equations.
Answer
Selected Answer: True
Correct Answer: True
• Question 3
0 out of 2 points
Fixed cost is the difference between total cost and...

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MAT540 WEEK 1 TO 11(Strayer)
MAT540 Week 1 Homework
Chapter 1, Problems 2, 4, 12, 14, 20, 22
2. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $60,000.The variable cost of recapping a tire is $9.The company charges $25 to recap a tire.
a. For an annual volume of 12,000 tires, determine the total cost, total revenue, and profit.
b. Determine the annual...

...
1. Deterministic techniques assume that no uncertainty exists in model parameters.
2. A continuous random variable may assume only integer values within a given interval.
3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously.
4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches
5. Starting conditions have no impact on the validity of a simulation model....

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MAT540 MIDTERM EXAM
1. Regret is the difference between the payoff from the best decision and all other decision payoffs.
2. Variable costs are independent of volume and remain constant.
3. Regret is the difference between the payoff from the
4 A _________ period of real time is represented by a __________ period of simulated time.
5. A seasonal pattern is an up-and-down repetitive movement within a trend...

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MAT540 Week 2 Quiz
Question 1
If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.
Question 2
Parameters are known, constant values that are usually coefficients of variables in equations.
Question 3
Probabilistic techniques assume that no uncertainty exists in model parameters.
Question 4
In general, an increase in price increases the break even point if all costs...

...Question 1 .2 out of 2 points
Correct Fixed cost is the difference between total cost and total variable cost.
Answer
Selected Answer: True
Correct Answer: True
. Question 2 .0 out of 2 points
Incorrect If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.
Answer
Selected Answer: True
Correct Answer: False
. Question 3 .2 out of 2 points
Correct Probabilistic techniques assume...