Operations Management
11th Edition
ISBN: 9780132921145
Author: Jay Heizer
Publisher: PEARSON
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Chapter F, Problem 6DQ
Summary Introduction
To determine: The reason why the results of the simulation differ from run to run.
Introduction: Simulation is the process that can be used in the operations, which would imitate the real-world process. Simulation process uses random sampling for the generation of realistic variability.
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QUESTION 1
(a) An art dealer's client is willing to buy the Sunflower painting at $50,000. The dealer can
buy the painting today for $40,000 or can wait a day and buy the painting tomorrow (if it
has not been sold) for $30,000. The dealer may also wait another day and buy the painting
(if it is still available) for $26,000. At the end of the third day, the painting will no longer be
available for sale. Each day, there is a 0.60 probability that the painting will be sold.
Construct a decision tree and determine the strategy that will maximize the dealer's
expected profit.
Question 8
(Atlantic Video) Atlantic Video, a small video rental store in Philadelphia, is open 24 hours a
day, and—due to its proximity to a major business school—experiences customers arriving
around the clock. A recent analysis done by the store manager indicates that there are 30
customers arriving every hour, with a standard deviation of interarrival times of 2 minutes. This
arrival pattern is consistent and is independent of the time of day. The checkout is currently
operated by one employee, who needs on average 1.7 minutes to check out a customer. The
standard deviation of this check-out time is 3 minutes, primarily as a result of customers taking
home different numbers of videos.
a. If you assume that every customer rents at least one video (i.e., has to go to the
checkout), what is the average time a customer has to wait in line before getting served
by the checkout employee, not including the actual checkout time (within 1 minute)?
b. If there are no customers requiring…
Question 1
Chapter F Solutions
Operations Management
Ch. F - Question: 1 State the seven steps, beginning with...Ch. F - Question: 2. List the advantages of simulation.Ch. F - Prob. 3DQCh. F - Question: 4. Explain the difference between...Ch. F - Question: 5. What is the role of random numbers in...Ch. F - Prob. 6DQCh. F - Question: 7. What is Monte Carlo simulation? What...Ch. F - Question: 8. List six ways that simulation can be...Ch. F - Question: 9. Why is simulation such a widely used...Ch. F - Prob. 10DQ
Ch. F - Prob. 11DQCh. F - Prob. 12DQCh. F - Prob. 13DQCh. F - Prob. 1PCh. F - Prob. 2PCh. F - Prob. 3PCh. F - Prob. 4PCh. F - Question F.5 Arnold Palmer Hospital is studying...Ch. F - Prob. 6PCh. F - Question: F.7 A warehouse manager at Mary Beth...Ch. F - Prob. 8PCh. F - Prob. 9PCh. F - Question: F.10 The number of cars arriving at...Ch. F - Prob. 11PCh. F - Prob. 12PCh. F - Prob. 13PCh. F - Question: F.14 Refer to the data in Solved...Ch. F - Question: F.15 Connecticut Tanning has two...Ch. F - Prob. 16PCh. F - Prob. 17PCh. F - Prob. 18PCh. F - Prob. 1CSCh. F - Prob. 2CS
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