43. The daily demand for a spare engine part is a random variable with a distribution,based on past experience, given byNumber ofDemands per DayProbability.2138.19123.144.08The part is expected to be obsolete after 400 days. Assume that demands from oneday to the next are independent. The parts cost $1,500 each when acquired inadvance of the 400-day period and $5,000 each when purchased on an emergencybasis during the 400-day period. Holding costs for unused parts are based on a dailyinterest rate of 0.08 percent. Unused parts can be scrapped for 10 percent of theirpurchase price. How many parts should be acquired in advance of the 400-dayperiod? (Hint: Let D1, D2, . . , D400 represent the daily demand for the part. Assumeeach D; has mean µ and variance o². The central limit theorem says that the totaldemand for the 400-day period, ED;, is approximately normally distributed withmean 400µ and variance 400o².)....

Here's the explanation for this. The central limit theorem defines that given certain conditions ,…

Answered: 43. The daily demand for a spare engine…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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12
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