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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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%
A machine has three components but can remain functional if at least two are working. Suppose that the failure times are exponential with means 2 months, 1 month, and 4 months, respectively for each component. What is the aver: ge length of time the machine can remain functional?
A hospital has two operation rooms. The service times for each of them is exponentially distributed with mean 17 minutes and are supposed to be independent. When both operation rooms are not busy then Akbar arrives. Whereas Bilal arrives 12 minutes later while Akbar is still under medication.After another 20 minutes later, Sameer arrives and both Akbar and Bilal are still under the medical treatment. There is no other arrival of any patient during this 40-minute time period.(a). Find the probability that Akbar will be ready before the Bilal’s arrival?(b). Find the probability that Sameer will be ready before Bilal’s arrival?(c). Find the probability that Sameer will be ready before Bilal’s arrival?(d). Calculate the waiting time for Sameer in the system?
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 $750 deductible per injury. Calculate the probability that an injury will result in a claim to High-Roller. Possible Answers 30% but 35% but 40% but < 45% D E 2 45%
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12. It can be small or large, as long as it includes all the data you are interested in.
Suppose that you are a researcher and wish to construct a linear mathematical (statistical) model that relates the number of years and the corresponding exports (million U.S.$) of a country. The constructed model may use to forecasts the future values. You have obtained the relevant data for the during of 1990 to 1995 and you have listed the data in Table 5. Table 5. Shows the list of the amount that have earned on exports Year No. 1 2 3 4 5 6 Exports 4954 6131 6904 6813 6803 8137 (a) Construct a suitable graph that explains the relationship between the number of years and the corresponding exports. (b) Construct a mathematical (Statistical) model by using least square method between number of years and the corresponding sales. (c) Interpret the slope of the estimated linear model (d) Forecast the value of exports by using the estimated linear model for the year of 2000
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