Practical Management Science
5th Edition
ISBN: 9781305250901
Author: Wayne L. Winston, S. Christian Albright
Publisher: Cengage Learning
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Chapter 10.2, Problem 6P
Use @RISK to draw a binomial distribution that results from 50 trials with probability of success 0.3 on each trial, and use it to answer the following questions.
- a. What are the mean and standard deviation of this distribution?
- b. You have to be more careful in interpreting @RISK probabilities with a discrete distribution such as this binomial. For example, if you move the left slider to 11, you find a probability of 0.139 to the left of it. But is this the probability of “less than 11” or “less than or equal to 11”? One way to check is to use Excel’s BINOM.DIST function. Use this function to interpret the 0.139 value from @RISK.
- c. Using part b to guide you, use @RISK to find the probability that a random number from this distribution will be greater than 17. Check your answer by using the BINOM.DIST function appropriately in Excel.
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Can you guys help me with this? Thank you!
Here's the question: Compared to the CONSTRAINT model, how has the network changed? How do you plan to add contingency to your network? Please answer this thoroughly
Here's the what-if scenario: Assume that the LA warehouse becomes temporarily or even indefinitely disabled since facing a large-scale labor disruption. Re-optimize the network considering this new constraint.
Here's the scenario comparison analysis:
Scenario Constraint Scenario vs What-if Scenario
Summary The Constraint Scenario exhibits a higher total cost of $7,424,575.45 compared to the What-if Scenario's total cost of $6,611,905.60, signifying a difference of approximately $812,669.85, which indicates a more expensive operation in the Constraint Scenario. The average service time is slightly higher in the Constraint Scenario (0.72 days vs. 0.70 days), suggesting that the What-if Scenario provides a marginally quicker service. Moreover, the average end-to-end service time…
Chapter 10 Solutions
Practical Management Science
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