6. A small company can employ 3 workers. Each worker independently stays on the job foran exponentially distributed time with a mean of one year and then quits. When a workerquits, it takes the company an exponentially distributed time with a mean of 1/10 of a yearto hire a replacement for that worker (independently of how long it takes to replace otherworkers). If the company takes in $1000 per day in revenue when it has 3 workers, $800per day when it has 2 workers, and $500 per day when it has 0 or 1 workers, what is thecompany's long-run average daily revenue?

A worker quits the company takes it in an exponential distribution with a mean of 1/10 a year mean…

Answered: 6. A small company can employ 3…

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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3a. The following table contains data from the Chicago Public School system (CPS) on 6th graders who were retained (forced to repeat grade) or promoted (successfully advanced to the next grade). Calculate the difference in the fraction of students who drop out, comparing students who were retained versus those who were promoted. 6th graders Retained Promoted Fraction retained 0.417 Educational attainment as of fall 2005 Graduated from CPS 0.296 0.404 Dropped out Transferred to private school Moved to another public school district 0.572 0.527 0.036 0.035 0.160 0.154 Still enrolled in the CPS 0.132 0.068 Age when started high school Age when left high school Number of credits completed when left high school Age when dropped out Number of credits completed in high school before dropping out 15.218 14.909 17.243 17.283 86.430 98.469 17.025 17.044 42.863 47.855 3b. Explain why the difference you calculated does not represent the causal effect of being retained. 3c. Provide one example of…
A tailor must make 7 of the same size suits for a client. The first suit took 13 hours to make and the last suit took 6.2 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reached? Express your answer in % to the nearest 0.1%
Question High-Roller Insurance Company insures the cost of injuries to the employees of ACME Dynamite Manufacturing, Inc. i) 30% of injuries are fatal and the rest are permanent total (PT). No other injury types occur. ii) Fatal injuries follow a loglogistic distribution with 0 = 400 and y = 2. iii) PT injuries follow a loglogistic distribution with 0 = 600 andy = 2. iv) There is a $750 deductible per injury. Calculate the probability that an injury will result in a claim to High-Roller. Possible Answers 30% but 35% but 40% but < 45% D E 2 45%
During a professor's office hours, students arrive, on average, every ten minutes. Assume that the distribution of the time between arrivals follows an exponential distribution. Suppose that a student has just left. Suppose that a student has just left. Only 25% of the time will the professor have to wait approximately how long or longer before the next student shows up?
23. A population of 30 chemical processing units is to be sampled by a two-person crew. The mean time between calls for this operation is 68 minutes. If the mean service rate is one unit per minute, the cost of the crew and instruments will be $16 per minute. This cost will decrease to $12, $9, and $7 for service intervals of 2,3, and 4 minutes, respectively. The time between calls for service and the service duration are distributed exponentially. If lost profit is $28 per hour for each unit that is idle, find the minimum cost service interval.
A surplus store gives a scratch‑off ticket to 2000 customers as they leave with their groceries. Can we expect these customers’ average winnings to be close to the average winnings for the entire population of the scratch‑off ticket holders? Yes No This cannot be determined from the information given.
.A new, miracle diabetes drug that diminishes major symptoms of diabetes has been approved by the FDA. Health care professionals and researchers believe that the new drug will prolong lifespan of diabetes patients. If the population is in steady state and the incidence is constant, what will the effect of this new drug be on the prevalence of diabetes in the population? Explain.
,./
Q3.25
The Harriet Hotel in downtown Boston has 100 rooms that rent for $150 per night. It costs the hotel $30 per room in variable costs (cleaning, bathroom items, etc.) each night a room is occupied. For each reservation accepted, there is a 5% chance that the guest will not arrive. If the hotel overbooks, it costs $200 to compensate guests whose reservations cannot be honored. How many reservations should the hotel accept if it wants to maximize the average daily profit?
Two geysers that are near to each other are labelled as Geyser A and Geyser B. The time between eruptions for a given geyser follows an exponential distribution. The eruption times of the two geysers are independent of one another. The mean amount of time between eruptions of Geyser A is 39 minutes, and the mean amount of time between eruptions of Geyser B is 66 minutes. Given that exactly one of the geysers erupts within the next 49 minutes, determine the probability that it will be Geyser A. O 0.6654 0.7850 O 0.7252 O 0.6953 O 0.7551
It is known to show an exponential distribution where the average lifespan of a type of CPU is ten years. What is the probability that the company that leases the server for ten years will encounter a central processing unit failure within the period of use?

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