MAT 540 - Quantitative Methods - Jet Copies - Case Study Analysis

Read the “JET Copies” Case Problem on pages 678-679 of the text. Using simulation estimate the loss of
revenue due to copier breakdown for one year, as follows:

1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it
is out of service, according to the discrete distribution shown.

2. In Excel, use a suitable method for simulating the interval between successive breakdowns, according to
the continuous distribution shown.

3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of
service.

4. Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the
question asked in the case study.

5. In a word processing program, write a brief description/explanation of how you implemented each
component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it together).

6. Answer the question posed in the case study. How confident are you that this answer is a good one? What are the limits of the study? Write at least one paragraph.