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- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.4. Consider a system with the following specifications: Calls per hour = 8; Average Holding time per Call 1.5 minutes; Number of users 3; Number of trunked Channels = 5. Determine: i) the total traffic offered in the system; ii) the blocking probability, iii) the delay probability; iv) the fraction of all calls that will be delayed for more than 1min minute; v) the average delay of all calls. What do you observe?Two methods are used to predict how many customers will call in for help in the next four days. The first method predicts the numbers of callers to be 49, 42, 46, and 50 for the four respective days. The second method predicts 48, 43, 47, and 49 for the four respective days. The actual numbers of callers turn out to be 50, 40, 45, and 48. Which method has the smaller mean absolute error (MAE)? O Both methods have the same MAE The second method. The first method O Cannot be determined
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- A manager is simulating the number of times a machine operator stops a machine to make adjustments. After careful study the manager found that the number of stops ranged from one to five per cycle and that each number of stops was equally likely. Using the random numbers 0.90 and 0.36 (in that order), determine how many stops for adjustments each of the next two cycles will have. The first cycle will have stops and the second cycle will have stops.The processing time for the robogate has a normal distribution with mean 25 Sec and standard deviation 3 sec Find the probability that the next operation of the robogate will take 28.5 sec or less.( Round to three decimals)How many years (t) can we expect to do business with a customer? Thetotal number of years is denoted by T.
- Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins working on a bag when a customer order has been received and then she makes the bag from beginning to end. The average production time of a bag is 1.7 days, with a standard deviation of 3 days. Larry expects to receive one customer order per day on average. The interarrival times of orders have a coefficient of variation of one. X Answer Is complete but not entirely correct. (Carry at least 4 decimal places in all intermediate calculations. Round your final answer to 2 decimal places.) What is the expected duration, in days, between when an order is received and when production begins on the bag? 30.39 8 daysPlease show step by step how to solve this. Assume, X = Z Y = A Z = HThe relationship between study hours and exam score was estimated as below in a linear format. Exam score = 6.24 * Study hours + 54.72 (The p-value for the coefficient of Study hours is 0.04.) How can the relationship between exam score and study hours be interpreted? As a person studies 1 more hour, his or her exam score is expected to decrease by 6.24 points. As a person studies 1 more hour, his or her exam score is expected to increase by 6.24 points. There is no meaningful relationship between exam score and study hours from a statistical point of view.