Tires that fail in service result in significantly higher replacement costs than those replaced beforefailure. For an 18-wheeler (that is, a truck with 18 tires), failure on the road costs $300, whereas all 18tires can be replace prior to failure at a cost of $75 per tire. The probability of failure is given in thefollowing table.Number of Miles0-5,0005,001-10,00010,001-15,00015,001-20,00020,001-25,000Probability of Failure.05.15.20.40.20If tires are replaced at multiples of 5,000 miles only, what is the optimal age replacement policy?

To find: The optimal age replacement policy. Given: The 18 wheeler failure on the road cost $300.…

Answered: Tires that fail in service result in…

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...

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A chain is composed of identical links with reliability of 0.9. How many links must a chain have in order for its reliability to be less than 0.5? Hint: Reliability of a series system is Rs=R1*R2….*Rn, which equals 0.9 multiplied by itself n times to get less than 0.5. Hence, Rs-0.5=0.9. By applying Ln to both sides, ln(0.5)=n*Ln(0.9). Now solve for n to get the answer.
1. An electronic component in a satellite radio made by Spacescope, Inc. has a failure rate of λ = 0.0000165 units/hour. Find the mean time to failure (MTTF). What is the probability (assuming an exponential probability distribution) that the component will not have failed after 20,000 hours of operation? Calculate your answer using the appropriate mathematical formula and verify your result using Excel. Then draw the reliability function to verify your answer visually. 2. Magnaplex, Inc. has a complex manufacturing process, with three operations that are performed in series. Because of the nature of the process, machines frequently fall out of adjustment and must be repaired. To keep the system going, two identical machines are used at each stage; thus, if one fails, the other can be used while the first is repaired (see accompanying figure). B Production System The reliabilities of the machines are as follows: Machine A Reliability 0.85 0.92 B с 0.90 a. Analyze the system…
Which statement regarding Time-Cost Models tradeoffs is true? Crashing a project reduces the duration of noncritical activities Projects with multiple critical paths cannot be crashed The crash time of an activity exceeds the normal time of the activity To crash a project, costs are increased on critical activities to reduce their duration Noncritical activities cannot become critical after crashing
CAN YOU PROVIDE THIS IN EXCEL, I CANT FIGURE OUT HOW TO DO THE EQUATIONS IN EXCEL. One of the industrial robots designed by a leading producer of servomechanisms has four major components. Components’ reliabilities are .98, .95, .94, and .90. All of the components must function in order for the robot to operate effectively.a. Compute the reliability of the robot.b. Designers want to improve the reliability by adding a backup component. Due to space limitations, only one backup can be added. The backup for any component will have the same reliability as the unit for which it is the backup. Which component should get the backup in orderto achieve the highest reliability?c. If one backup with a reliability of .92 can be added to any one of the main components, which component should get it to obtain the highest overall reliability?
Several years ago, Baecher, de Neufville, and Paté carried out a study of reported failures of large dams around the world. They concluded that the failure rate was 0.0001 per dam-year. A dam-year is defined as one dam operating for one year. The definitions of "failure" and "large dam" are subject to dispute, but the study has become the basis for much of the reliability studies done by agencies that operate dams. Almost everyone assumes that this failure rate represents a constant failure rate (CFR) scenario even though there is good reason to believe that a bathtub curve, with higher rates of failure at the beginning and end of the life cycle, might be more appropriate. Assuming that the CFR model is accurate, answer the following: a) What is the mean time to failure (MTTF) in dam-years for the Baecher et al. model? b) If an agency manages a portfolio of 350 dams, and they are independent of each other, what is the mean time the agency can expect to carry on before a failure occurs?…
As compared to a system without backup (shown below), 0.99 0.97 0.87 0.99 0.97 0.87 0.99 0.97 0.87 the reliability of the system with backup (shown at the top of the screen) is higher by % (enter your response as a percentage rounded to two decimal places).
The reliability dimension of quality relates to the useful life of a good or service. True False
40. Habard's, a chain of hardware stores, sells a variety of tools and home repair items. One of their best wrenches sells for $5.50. Habard's will include a three-year free replacement warranty for an additional $1.50. The wrench is expected to be sub- ject to heavy use and, based on past experience, will fail randomly at a rate of one every eight years. Is it worth purchasing the warranty?
2. An electronic device has three components. Those components are in series, so the failure of one causes the failure of the device. The reliability (probability that there is no fault) the device can be improved by installing one or two drives reserve in each component. The following table shows the reliability r and the cost c (see image). The capital available for the manufacture of the device is $10,000. How should the device be manufactured? Make the formulation in dynamic programming of the problem. Hint: The objective is to maximize reliability, that is, the function is multiplicative, not additive.

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