A plastic injection molding machine operates 334 days a year. It is the bottleneck workstation in a process that produces plastic housed wall clocks. Industrial engineers collected data on the probability of machine breakdowns, the costs of preventive maintenance, and the cost of a breakdown. | Number of Molding Machine Breakdowns per Day | 0 | 1 | 2 | 3 | 4 | |----------------------------------------------|-----|-----|-----|-----|-----| | Probability of a breakdown | 0.32| 0.27| 0.22| 0.13| 0.06| The cost of preventive maintenance is high due to performing it between 1 and 4 a.m. each day by two machine experts. The preventive maintenance cost is $2,030 per day including replacement parts, cleaning, and software upgrades. The cost of a breakdown of $1,940 is also high because the downstream workstations can only work until all work-in-progress inventory is completed; then the entire process must stop. What are the economics of the situation? Do not round intermediate calculations. Round your answers to the nearest cent. The expected cost of a breakdown per day is $ [Blank] . The manufacturing firm saves $ [Blank] per year by performing preventive maintenance daily on the injection molding machine.
A plastic injection molding machine operates 334 days a year. It is the bottleneck workstation in a process that produces plastic housed wall clocks. Industrial engineers collected data on the probability of machine breakdowns, the costs of preventive maintenance, and the cost of a breakdown. | Number of Molding Machine Breakdowns per Day | 0 | 1 | 2 | 3 | 4 | |----------------------------------------------|-----|-----|-----|-----|-----| | Probability of a breakdown | 0.32| 0.27| 0.22| 0.13| 0.06| The cost of preventive maintenance is high due to performing it between 1 and 4 a.m. each day by two machine experts. The preventive maintenance cost is $2,030 per day including replacement parts, cleaning, and software upgrades. The cost of a breakdown of $1,940 is also high because the downstream workstations can only work until all work-in-progress inventory is completed; then the entire process must stop. What are the economics of the situation? Do not round intermediate calculations. Round your answers to the nearest cent. The expected cost of a breakdown per day is $ [Blank] . The manufacturing firm saves $ [Blank] per year by performing preventive maintenance daily on the injection molding machine.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
100%
![A plastic injection molding machine operates 334 days a year. It is the bottleneck workstation in a process that produces plastic housed wall clocks. Industrial engineers collected data on the probability of machine breakdowns, the costs of preventive maintenance, and the cost of a breakdown.
| Number of Molding Machine Breakdowns per Day | 0 | 1 | 2 | 3 | 4 |
|----------------------------------------------|-----|-----|-----|-----|-----|
| Probability of a breakdown | 0.32| 0.27| 0.22| 0.13| 0.06|
The cost of preventive maintenance is high due to performing it between 1 and 4 a.m. each day by two machine experts. The preventive maintenance cost is $2,030 per day including replacement parts, cleaning, and software upgrades. The cost of a breakdown of $1,940 is also high because the downstream workstations can only work until all work-in-progress inventory is completed; then the entire process must stop. What are the economics of the situation? Do not round intermediate calculations. Round your answers to the nearest cent.
The expected cost of a breakdown per day is $ [Blank] .
The manufacturing firm saves $ [Blank] per year by performing preventive maintenance daily on the injection molding machine.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc00f41a8-3019-411c-9841-b4d3b90602dd%2F871ed7b4-ad5b-4c03-888a-16fc35abdf9b%2F3163hn_processed.png&w=3840&q=75)
Transcribed Image Text:A plastic injection molding machine operates 334 days a year. It is the bottleneck workstation in a process that produces plastic housed wall clocks. Industrial engineers collected data on the probability of machine breakdowns, the costs of preventive maintenance, and the cost of a breakdown.
| Number of Molding Machine Breakdowns per Day | 0 | 1 | 2 | 3 | 4 |
|----------------------------------------------|-----|-----|-----|-----|-----|
| Probability of a breakdown | 0.32| 0.27| 0.22| 0.13| 0.06|
The cost of preventive maintenance is high due to performing it between 1 and 4 a.m. each day by two machine experts. The preventive maintenance cost is $2,030 per day including replacement parts, cleaning, and software upgrades. The cost of a breakdown of $1,940 is also high because the downstream workstations can only work until all work-in-progress inventory is completed; then the entire process must stop. What are the economics of the situation? Do not round intermediate calculations. Round your answers to the nearest cent.
The expected cost of a breakdown per day is $ [Blank] .
The manufacturing firm saves $ [Blank] per year by performing preventive maintenance daily on the injection molding machine.
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.