Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 13.7, Problem 28P
Summary Introduction
Interpretation:
The optimal time for replacement:
Concept Introduction:
The objective of optimal policy is to determine the value of 't’ that minimizes the total cost of maintenance and replacement over an infinite horizon.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A product engineer has developed the following equation for the cost of a system component: C = (10P) 2, where C is the cost in dollars and P is the probability that the component will operate as expected. The system is composed of two identical components, both of which must operate forthe system to operate. The engineer can spend $173 for the two components. To the nearest two decimal places, what is the largest component probability that can be achieved?
A producer of pocket calculators estimates that the calculators fail at a rate of one every five years. The calculators are sold for $25 each with a one-year free replacement warranty but can be purchased from an unregistered mail-order source for $18.50 without the warranty.
What length of period of the warranty equates the replacement costs of the calculator with and without the warranty?
A product engineer has developed the following equation for the cost of a system component: C = (10P)2, where is the cost in dollars and Pis the probability that the component will operate as expected. The system is composed of two identical components, both of which must operate for the system to operate. The engineer can spend $173 for the two components. To the nearest two decimal places, what is the largest component probability that can be achieved?
Chapter 13 Solutions
Production and Operations Analysis, Seventh Edition
Ch. 13.1 - Prob. 3PCh. 13.1 - Prob. 4PCh. 13.1 - Prob. 5PCh. 13.1 - Prob. 6PCh. 13.2 - Prob. 7PCh. 13.2 - Prob. 9PCh. 13.3 - Prob. 13PCh. 13.3 - Prob. 14PCh. 13.4 - Prob. 15PCh. 13.4 - Prob. 16P
Ch. 13.4 - Prob. 17PCh. 13.4 - Prob. 18PCh. 13.4 - Prob. 19PCh. 13.4 - Prob. 20PCh. 13.6 - Prob. 21PCh. 13.6 - Prob. 22PCh. 13.6 - Prob. 23PCh. 13.6 - Prob. 24PCh. 13.6 - Prob. 25PCh. 13.7 - Prob. 26PCh. 13.7 - Prob. 27PCh. 13.7 - Prob. 28PCh. 13.7 - Prob. 30PCh. 13.7 - Prob. 31PCh. 13.7 - Prob. 32PCh. 13.7 - Prob. 33PCh. 13.7 - Prob. 34PCh. 13.8 - Prob. 35PCh. 13.8 - Prob. 36PCh. 13.8 - Prob. 37PCh. 13.8 - Prob. 38PCh. 13.8 - Prob. 39PCh. 13.8 - Prob. 40PCh. 13.8 - Prob. 41PCh. 13 - Prob. 42APCh. 13 - Prob. 43APCh. 13 - Prob. 44APCh. 13 - Prob. 45APCh. 13 - Prob. 46APCh. 13 - Prob. 48APCh. 13 - Prob. 49APCh. 13 - Prob. 51APCh. 13 - Prob. 52APCh. 13 - Prob. 53AP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- a factory that produces a small number of items per day. In about 30% of working days the factory produces 7 units of the product, in 45% of working days it produces 8 units, and the rest of working days it produces 9 units. After production is completed, each unit is thoroughly inspected. Each unit fails inspection with probability ??. If two or more units fail inspection on the same day, the factory closes for a week to re-calibrate equipment. Say the factory opens today after being closed for a week, write a mathematical expression to calculate the probability that the factory will remain open at least 30 days before closing again.arrow_forwardA cosmetics company fills its best selling jars of facial cream by an automatic dispensing machine. The machine is set to dispense a mean of 7.2 ounces per jar. Uncontrollable factors in the process can cause either underfill or overfill, both of which are undesireable. In such a case, the dispensing can be stopped and recalibrated. Regardless of the mean amount despensed, the standard deviation of the amount dispwnsed always has a value of 0.25 ounce. A quality control engineer routinely selects 36 jars from the assembly line to check the amounts filled. On one occasion, the sample mean is 7.8 ounces. Determine if there is sufficient evidence in the sample to indicate, at the 1% level of significance, that the machine should be recalibrated.arrow_forward9.19 In bottle production, bubbles that appear in the glass are considered defects. Any botle that has more than two bubbles is elassified as "nonconforming" and is sent to recycling Suppose that a particular production line produces bottles with bubbles at a rate of 1. bubbles per bottle. Bubbles occur independently of one another. a What is the probability that a randomly chosen bottle is nonconfornming? b Bottles are packed in cases of 12. An inspector chooses one bottle from each case and examines it for defects. If it is nonconforming, she inspects the entire case, re placing nonconforming bottles with good ones. This process is called rectification If the chosen bottle conforms (has two or fewer bubbles), then she passes the cuse. In total, 20 cases are produced. What is the probability that at least 18 of them pass! c What is the expected number of nonconforming bottles in the 20 cases after they have been inspected and rectified using the scheme described in part b?arrow_forward
- A product engineer has developed the following equation for the cost of a system component: C = (10P)2, where C is the cost in dollars and P is the probability that the component will operate as expected. The system is composed of 3 identical components, all of which must operate for the system to operate. The engineer can spend $254 for the 3 components. What is the largest component probability that can be achieved? (Do not round your intermediate calculations. Round your final answer to 4 decimal places.) Probability 0.8466arrow_forwardDetermine the optimum preventive maintenance frequency for each of the pieces of equipment if breakdown time is normally distributed: (Round "Probability Ratio" to 4 decimal places, and all other answers to 2 decimal places. Negative values should be indicated by a minus sign.) Use Table. Equipment. A201 B400 C850 Equipment A201 B400 CB50 Equipment Average Time (days) between Breakdowns A201 B400 C850 20 30 45 Preventive Maintenance Cost Click here for the Excel Data File: $330 $230 $580 Probability Ratio Standard Deviation 3 Breakdown Cont $2,230 $3,530 $4,825 Interval (days)arrow_forwardA swim club is designing a new pool to replace its old pool. The new pool would need to last for 10 years since the club is planning on relocating after 10 years. A concrete shell would cost $85,000 and last for all 10 years. Another option is to install a vinyl liner that would cost only $70,000 to install. However, the vinyl is not guaranteed to last for all 10 years, and it has a 40% chance of breaking down. Repair of the vinyl would cost $40,000 and would extend the life of the vinyl liner to the 10-year mark. If both options are acceptable to the swim club, which one minimizes cost? Support your answer with drawing a decision tree and provide your calculation.arrow_forward
- A Florida lottery machine and printer at Store #8302 operates 360 days a year. If the machine does not work and breaks down, it costs the Florida Lottery Commission $2,160 per day. If store employees are trained to perform local tests on the machine each day plus the costs of machine repairpersons, these preventive maintenance costs average $850 per day. If preventive maintenance is performed daily, the probability the equipment fails is zero. The probability of store lottery machine breakdown is as follows. Number of Lottery Machine Breakdowns per Day 0 1 1/3 Probability of a breakdown What are the economics of the situation? Do not round intermediate calculations. Round your answers to the nearest dollar. The expected cost of a breakdown per day is $ The Florida Lottery Commission saves $ by performing preventive maintenance daily. 2 1/3 1/3 per yeararrow_forwardAn expensive piece of equipment is used in the masking operation for semiconductor manufacture.A capacitor in the equipment fails randomly. The capacitor costs $7.50, but if it burns out while the machine is in use, the production process must be halted. Here the replacement cost is estimated to be $150. Based on past experience, the lifetime distribution of the capacitor is estimated to be Number of Months Probability of of Service Failure 1 .08 2 .12 3 .16 4 .26 5 .22 6…arrow_forwarda bread manufacturer relies on maintenance employees to keep its rather quite old production equipment for their operation. Whenever the equipment breaks down, the maintenance team is able to repair the equipment quickly. However, they are less effective at avoiding these breakdowns and cannot predict when the equipment will break down. The maintenance group has modified the equipment over the years and, in any event, the manufacturer of the equipment is no longer in business. The maintenance employees teach each other how to repair the equipment, but have refused to document any of this information (saying that it is too difficult to document these details). The company owner has thought about firing the maintenance staff unless they document the maintenance procedures, but realizes that there is no one else who can repair the equipment. Discuss or explain the sources or types of power and contingencies (moderator) of power among the maintenance employees in this situation.arrow_forward
- A local cab company maintains a fleet of 10 cabs. Each time a cab breaks down, it isrepaired the same day. Assume that breakdowns of individual cabs occur completely atrandom at a rate of two per year.d. What is the probability that there are more than five breakdowns between Thanksgiving Day (November 28) and New Year’s Day (January 1)?arrow_forwardOf the items produced daily by a factory, 40% come from line I and 60% from line II. Line I has a defect rate of 8%, whereas line II has a defect rate of 10%. If an item is chosen at random from the day's production, find the probability that it will not be defective.arrow_forwardA production process contains a machine that deteriorates rapidly in both quality and output under heavy usage, so that it is inspected at the end of each day. Immediately after inspection, the condition of the machine is noted and classified into one of the four possible states: State Condition Good as new Operable-minimum deterioration Operable-major deterioration Inoperable 2 3 The process can be modeled as a Markov Chain with its (one-step) transition matrix P given by 1 7 1 - 16 8 16 3 1 1 P = 8. 4 8. 1 1 2 a. Determine the expected life of a new machine if it is replaced when it is "Inoperable". b. Determine the expected life of a new machine if it is replaced when it is either "Operable-major deterioration" or "Inoperable". c. According to the replacement rule in b., what is the percentage of machines that are replaced when they are inoperable?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Inventory Management | Concepts, Examples and Solved Problems; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=2n9NLZTIlz8;License: Standard YouTube License, CC-BY