A large automotive repair shop has instituted a system for mechanics to check out the needed supplies from the Parts Department. Observation of the system has shown that the rate of arrivals of mechanics (who are internal customers in this setting) to check out supplies follows a Poisson distribution with an average rate of 10 per hour. It takes an average of 5 minutes to get the supplies to the mechanic and these times follow an exponential distribution. Assume that there is currently only one person working at the service window in the parts department. The hourly salary of the service attendant (resource unit) is 30$ and the hourly salary of the mechanic is $40. What is the total system time cost?

A large automotive repair shop has instituted a system for mechanics to check out the needed supplies from the Parts Department. Observation of the system has shown that the rate of arrivals of mechanics (who are internal customers in this setting) to check out supplies follows a Poisson distribution with an average rate of 10 per hour. It takes an average of 5 minutes to get the supplies to the mechanic and these times follow an exponential distribution. Assume that there is currently only one person working at the service window in the parts department. The hourly salary of the service attendant (resource unit) is 30$ and the hourly salary of the mechanic is $40. What is the total system time cost?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Figure I shows the age and annual DDS expenditures for 376 Hispanic and 401 white non hispanic DDS recipients. Based on the scatter plot, determine whether each of the following statements is TRUE or FALSE no explanaition is needed: Older DDS recipients generally had higher annual DDS expenditures The histogram of annual DDS expenditures would be unimodal. The median annual DDS expenditures of these DDS recipients would be higher than their mean annual DDS expenditures.
3. Suppose that the length of time Y to conduct a periodic maintenance check (from previous experience) on office copiers follows a gamma-type distribution with a = 3 and ß = 2. Suppose a new repairman requires 20 minutes to check a machine. Does it appear that his time to perform a maintenance check disagrees with prior experiences?
Gini coefficient is a statistic used to measure income inequality within nations. It ranges from 0 to 100, with higher scores indicating more inequality. At the extremes, a Gini score of 0 would mean that everyone in the country earns the exact same income, and a Gini score of 100 would mean that only one person in the country earns all the income. Some people argue that the larger a nation is, the more difficult it is to maintain a fair distribution of incomes. In other words, does income inequality increase as population size increases? You can test this question by conducting a bivariate regression on the data in the table below. ***Must show work on PDF for completing this computational table and for the following 9 questions*** Country (1) X: Population (in millions) (2) Y: Gini Score (3) (4) (5) (6) (7) Sweden 8 27 Ethiopia 77 29 Switzerland 11 43 Laos 6 45…
2
Serial correlation, also known as autocorrelation, describes the extent to which the result in one period of a time series is related to the result in the next period. A time series with high serial correlation is said to be very predictable from one period to the next. If the serial correlation is low (or near zero), the time series is considered to be much less predictable. For more information about serial correlation, see the book Ibbotson SBBI published by Morningstar. A research veterinarian at a major university has developed a new vaccine to protect horses from West Nile virus. An important question is: How predictable is the buildup of antibodies in the horse's blood after the vaccination is given? A large random sample of horses were given the vaccination. The average antibody buildup factor (as determined from blood samples) was measured each week after the vaccination for 8 weeks. Results are shown in the following time series. Original Time Series Week Buildup Factor 2 3 4…
A population with u = 45 and o = 10 is standardized to create a new distribution withu= 100 and o = 20. In this transformation, a score of X = 15 from the original distribution will be transformed into a score of X =.
A portfolio manager has positions that include a £100,000 investment in A Corp and a£75,000 investment is B Corp. The position in A Corp has standard deviation of gainsand losses of 35% per annum whilst the position in B Corp has standard deviation ofgains and losses of 22% per annum. Gains and losses for both A Corp and B Corp arenormally distributed while the returns A Corp and B Corp have correlation -0.6 (minus0.6). When necessary, assume 252 trading days in the calendar year. Based on theabove and the table in the Appendix:a) Calculate the 1-day 99% VaR of A Corp and of B Corp b) Calculate the 1-day 99% Expected Shortfall (ES) of A Corp and of B Corpc) Using your answers to (a) and (b) calculate the 1-month VaR and ES of A Corp andof B Corp. d) Calculate the 1-month 99% VaR and ES of the portfolio e) Calculate the 1-month 99% marginal VaR of each position. Interpret your answerf) Can the portfolio manager increase the position of A Corp to reduce their market riskexposure? Justify…
Suppose that, at the end of last semester, Marie gave her introductory statistics class a final exam. After grading these exams, she created a histogram illustrating the distribution of exam scores for the 70 students in the class. Each of the bars in this histogram includes only the left endpoint of the interval, except for the bar representing scores between 90 and 100 points, which also includes the right endpoint. What percentage of students scored between 60 and 80 points on the exam? Round your answer to the nearest tenth of a percent. Number of students who scored at least 80 points = students Percentage of students who scored between 60 and 80 points = %
The Normal distribution curve to the right displays the distribution of grades given to managers based on management performance at Ford. Of the large population of Ford managers, 10% were given A grades, 80% were given B grades, and 10% were given C grades. A’s were given to those who scored 380 or higher and C’s were given to those who scored 160 or lower. Suppose the company adds grades D and F so there are 5 categories to grade performance. If they want to give A’s only to those in the top 3%, what performance score must a manager exceed to get an A?
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?
A five years Business Informatics student studying at TU Wien does some temporary substitute work on the banking sector every 31 days on average, and this time follows an exponential distribution. After acquiring one of these works, its duration is also aleatoric, exponentially distributed and its mean duration is 60 daysThe money earned depends on the total number of days worked in each contract, paid at $100 daily. For unemployment periods, the student has taken out an insurance for which $50 is paid for each day on the dole. Build a queuing model to establish the mean annual income (1 year = 365 days) that the student earns. (Hint: single server, finite customer population of 1.)
Serial correlation, also known as autocorrelation, describes the extent to which the result in one period of a time series is related to the result in the next period. A time series with high serial correlation is said to be very predictable from one period to the next. If the serial correlation is low (or near zero), the time series is considered to be much less predictable. For more information about serial correlation, see the book Ibbotson SBBI published by Morningstar. An Internet advertising agency is studying the number of "hits" on a certain web site during an advertising campaign. It is hoped that as the campaign progresses, the number of hits on the web site will also increase in a predictable way from one day to the next. For 10 days of the campaign, the number of hits × 105 is shown. Original Time Series Day 1 2 3 4 5 6 7 8 9 10 Hits × 105 1.3 3.5 4.4 7.2 6.8 8.3 9.0 11.3 13.1 14.7 Test ρ > 0 at the 1% level of significance. (Use 2 decimal places.) t