Render, B., Stair, Jr., R. M., Hanna, M. E., & Hale, T. S. (2018). Quantitative analysis for management (13th ed.). New York City, NY. Pearson. ISBN: 9780134543451
You will need access to this book yourself! I will not be able to provide it.
(Assignment must be between 900-1000words for entire assignment.)
QUANTITATIVE ANALYSIS
1. What are the assumptions necessary for a queuing calculation?
2. When are the Poisson and negative exponential distributions used?
3. What are the advantages and limitations of simulation models?
4. What is operational gaming? What is systems simulation? Give examples of how each may be applied.
5. What is Monte Carlo simulation? What principles underlie its use, and what steps are followed in applying it?
6. From historical data, Harry’s Car Wash estimates that dirty cars arrive at the rate of 10 per hour all day Saturday. With a crew working the wash line, Harry figures that cars can be cleaned at the rate of one every 5 minutes. One car at a time is cleaned in this example of a single-channel waiting line. Assuming Poisson arrivals and exponential service times, find the
1. average number of cars inline.
2. average time a car waits before it is washed.
3. average time a car spends in the service system.
4. utilization rate of the car wash.
5. probability that no cars are in the system.