Explain the difference between simulated average demand and expected average demand.
Answer to relevant QuestionsList six ways that simulation can be used in business?The number of machine breakdowns per day at Kristen Hodge’s factory is either 0, 1, or 2, with probabilities 0.5, 0.3, or 0.2, respectively. The following random numbers have been generated: 13, 14, 02, 18, 31, 19, 32, 85, ...Phantom Controls monitors and repairs control circuit boxes on elevators installed in multistory buildings in downtown Chicago. The company has the contract for 108 buildings. When a box malfunctions, Phantom installs a new ...Repeat the simulation in Problem F.17, assuming that the reorder point is 4 units rather than 2. Compare the costs for these two situations. Again use the same random numbers as in Problem F.7?In Problem F.17, Dumoer ...Define work breakdown structure. How is it used?
Post your question