MAT 540 Quantiative Methods Strayer wk3 hmk

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P1

Hoylake Rescue Squad
Probability of Time between calls Simulation
P(x) Cumulative Time between calls RN Time between calls Cumulative clock
0.05 0 1
0.1 0.05 2
0.3 0.15 3
0.3 0.45 4
0.2 0.75 5
0.05 0.95 6
1
EV = 3.48
Average Time =

P2

Petroco service
Simulation
Probability Cumulative Time between arrival (min)
0.15 0 1 Counts RN Time between calls RN Time between calls Cumulative clock
0.3 0.15 2 1
0.4 0.45 3 2
0.15 0.85 4 3
1 4
5
a. Avg Arrival time 6
b. Avg. arrival time 7
8
Compare a. and b. 9
10
11
12
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20

P3

Dynaco Manufacturing
Probability breakdown per week Simulation
P(x) Cumulative Breakdown Week RN Breakdowns
0.1 0 0 1
0.1 0.1 1 2
0.2 0.2 2 3
0.25 0.4 3 4
0.3 0.65 4 5
0.05 0.95 5 6
1 7
8
9
Simulated avg. breakdown 10
Average breakdowns = 11
12
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20

P5

Sun Visor or Umbrella?
Simulation
Weather Conditions
P(x) Cumulative Sun Visor Week RN SunVisor ($) RN Umbrella ($) Decision Rain Overcast Sunshine
0.3 0 -500 1 0.3 0.15 0.55
0.15 0.3 -200 2 Sun visors ($500) ($200) $1,500
0.55 0.45 1500 3 Umbrellas 2,000 0
1 4 -900
5
6 a.      Compute the expected value for each decision and select the best one.
P(x) Cumulative Umbrella 7 Ans: Sun Visor $645
0.3 0 2000 8 Umbrella $ 105.00
0.15 0.3 0 9
0.55 0.45 -900 10
1 11
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19
20
Average

P6

Dynaco Manufacturing
Repair Time Simulation
P(x) Cumulative Repair (hrs) Week RN Repair time (hours)
0.3 0 1 1
0.5 0.3 2 2
0.2 0.8 3 3
1 4
5
6
Simulated avg. repair time 7
8
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11
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20