Concept explainers
a
Interpretation:
Expected failure time regarding copier equipment.
Concept Introduction:
Mean is the average value of the data given. It is usually the middle value which represents the whole data. It is calculated by summing up all values divided by umber of values.
b
Interpretation:
Expected failure time for a piece of operating equipment.
Concept Introduction:
Mean is the average value of the data given. It is usually the middle value which represents the whole data. It is calculated by summing up all values divided by umber of values.
c
Interpretation:
Mean failure time
Concept Introduction:
Mean is the average value of the data given. It is usually the middle value which represents the whole data. It is calculated by summing up all values divided by umber of values.
d
Interpretation:
Mean failure time
Concept Introduction:
Mean is the average value of the data given. It is usually the middle value which represents the whole data. It is calculated by summing up all values divided by umber of values.
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Production and Operations Analysis, Seventh Edition
- Use Excels functions (not @RISK) to generate 1000 random numbers from a normal distribution with mean 100 and standard deviation 10. Then freeze these random numbers. a. Calculate the mean and standard deviation of these random numbers. Are they approximately what you would expect? b. What fraction of these random numbers are within k standard deviations of the mean? Answer for k = 1; for k = 2; for k = 3. Are the answers close to what they should be (about 68% for k = 1, about 95% for k = 2, and over 99% for k = 3)? c. Create a histogram of the random numbers using about 10 bins of your choice. Does this histogram have approximately the shape you would expect?arrow_forwardDilberts Department Store is trying to determine how many Hanson T-shirts to order. Currently the shirts are sold for 21, but at later dates the shirts will be offered at a 10% discount, then a 20% discount, then a 40% discount, then a 50% discount, and finally a 60% discount. Demand at the full price of 21 is believed to be normally distributed with mean 1800 and standard deviation 360. Demand at various discounts is assumed to be a multiple of full-price demand. These multiples, for discounts of 10%, 20%, 40%, 50%, and 60% are, respectively, 0.4, 0.7, 1.1, 2, and 50. For example, if full-price demand is 2500, then at a 10% discount customers would be willing to buy 1000 T-shirts. The unit cost of purchasing T-shirts depends on the number of T-shirts ordered, as shown in the file P10_36.xlsx. Use simulation to determine how many T-shirts the company should order. Model the problem so that the company first orders some quantity of T-shirts, then discounts deeper and deeper, as necessary, to sell all of the shirts.arrow_forwardThe output distribution form(s) of the input distribution(s) are generally fairly straightforward to predict (s). FALSE OR TRUE!!arrow_forward
- What changes occur in the Coefficients of a Nonbasic Variable when the original model is modified?arrow_forwardFor the next 6 numbers: Refer to the Management Scientist output of a maximization LP problem. The constraints are defined as follows: Constraint 1: advertising budget ( ) Constraint 2: sales force availability ( ) Constraint 3: production level (=) Constraint 4: retail stores requirement ( ) Optimal Solution Objective Function Value - Variable. Constraint X1 X2 X1 X2 X3 X4 X3 X4 1 2 Variable 1 2 3 3 4 OBJECTIVE COEFFICIENT RANGES 4 Constraint RIGHT HAND SIDE RANGES Value Slack/Surplus Lover Limit 25.000 425.000 150.000 0.000 84.000 50.000 No Lover Linit No Lover Linit Lover Limit 48450.000 0.000 25.000 0.000 0.000 4950.000 1775.000 515.000 0.000 Reduced Costs Dual Prices Current Value 90.000 84.000 70.000 60.000 Current Value 0.000 0.000 0.000 45.000 5000.000 1800.000 600.000 150.000 3.000 0.000 60.000 -17.000 Upper Limit No Upper Linit 90.000 87.000 105.000 Upper Linit 5850.000 No Upper Limit 603.571 200.000arrow_forward4.1 TYPES OF RANDOM VARIABLES. Which of the following describe continuous random variables? Which describe discrete random variables? The number of newspapers sold by the New York Times each month The amount of ink used in printing a Sunday edition of the New York Times The actual number of ounces in a 1-gallon bottle of laundry detergent The number of defective parts in a shipment of nuts and bolts The number of people collecting unemployment insurance each montharrow_forward
- A negative value of Z in standard normal distribution indicates that a. the number of standard deviations of an observation is to the right of the mean b. the number of standard deviations of an observation is to the left of the mean c. a mistake has been made in computations since Z cannot be negative d. the data has a negative mean 2. Which of the following will increase the breakeven point? a. Increase selling price b. Increase fixed cost c. Decrease variable cost d. Decrease fixed cost 3. The manager of a manufacturing company is trying to figure out how many products need to be produced for the coming quarter. Suppose the beginning inventory of the quarter is 500 units and the management predicts that the sales volume in the coming quarter would be 2400 units. The company also requires 1100 units ending inventory for the coming quarter. What should be the production volume for that quarter? a. 2400 b. 3000 c. 3300 d. 3900arrow_forwardModels that have no random input are called iconic models. Select one: True Falsearrow_forwardThe central limit theorem implies which of the following: a. The averages of many random samples (of a given sample size n) from the same population are approximately normally distributed, but only if the population is normally distributed. b. The averages of many random samples (of a given sample size n) from the same population are approximately normally distributed with mean μ and standard deviation σ / √n , but only if the population is normally distributed. c. The averages of many random samples (of a given sample size n) from the same population are approximately normally distributed, regardless of the shape of the population distribution, provided that n is sufficiently large. d. None of these choices are true.arrow_forward
- The average weekly earnings of bus drivers in a city are $950 (that is μ) with a standard deviation of $45 (that is σ). Assume that we select a random sample of 81 bus drivers. What is the probability that the sample mean will be greater than $960? (Keep 4 digits of the result)arrow_forwardIt is usually fairly straightforward to predict the shape of the output distribution from the shape(s) of the input distribution(s). TRUE OR FALSEarrow_forwardIf X1, X2, ... , Xn constitute a random sample from apopulation with the mean μ, what condition must beimposed on the constants a1, a2, ... , an so thata1X1 + a2X2 +···+ anXnis an unbiased estimator of μ?arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,