Spreadsheet Modeling & Decision Analysis: A Practical Introduction To Business Analytics, Loose-leaf Version
Spreadsheet Modeling & Decision Analysis: A Practical Introduction To Business Analytics, Loose-leaf Version
8th Edition
ISBN: 9781337274852
Author: Ragsdale, Cliff
Publisher: South-Western College Pub
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Manufacture of a certain component requires three different machining operations. Machining time for each operation has a normal distribution, and the three times are independent of one another. The mean values are 20, 30, and 15 min, respectively, and the standard deviations are 1, 2, and 1.9 min, respectively. What is the probability that it takes at most 1 hour of machining time to produce a randomly selected component? (Round your answer to four decimal places.)
establish the significance of random numbers in Monte Carlo simulations.
A large building may require an automated alarm system which monitors and controls all fire and security alarms in the building. Normally, the building is divided into zones and a number of alarms are associated with each zone. Alarms alert a central manned control area who may pass these on to the emergency services or may respond personally.Factors which have to be taken into account in building such a system are:Ø If the control area is unmanned and an alarm is activated this alarm should not be ignored if it is potentially serious. Emergency services should be automatically called.Ø Some but not all parts of the building may be equipped with sprinkler systems or systems to shut down electrical equipment. These should be activated if a fire alarm is confirmed. They should not be activated if there are people in the same room.Ø The building may be equipped with direction indicators which illuminate the route to the nearest exit. These should be activated when a fire alarm is…
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