Question: For the Bigelow Manufacturing example in this chapter re create the
For the Bigelow Manufacturing example in this chapter, re-create the simulation for the improved maintenance program shown in Table 14.11 and Exhibit 14.8 using Crystal Ball. For the improved program assume that the repair time is normally distributed with a mean of 1.70 days and a standard deviation of 0.6 day. Assume that the time between breakdowns is defined by the triangular distribution for the improved maintenance program used in the example. Using Crystal Ball, determine the average annual number of breakdowns, average annual repair time, and average annual repair cost. Compare this improved maintenance system with the current one (Problem 27), and indicate whether it should be adopted given the cost of improving the system (i.e., $20,000).
Answer to relevant QuestionsErin Jones has $100,000 and, to diversify, she wants to invest equal amounts of $50,000 each in two mutual funds selected from a list of four possible mutual funds. She wants to invest for a 3-year period.She has used ...The Saki motorcycle dealer in the Minneapolis–St. Paul area wants to make an accurate forecast of demand for the Saki Super TXII motorcycle during the next month. Because the manufacturer is in Japan, it is difficult to ...Emily Andrews has invested in a science and technology mutual fund. Now she is considering liquidating and investing in another fund. She would like to forecast the price of the science and technology fund for the next month ...The Beaver Creek Pottery Company sells bowls and mugs, hand-made by Native American artisans, at a craft store and through a Web site. Making these items requires a special type of clay and a large amount of individual ...The Jersey Dairy Products Company produces cheese, which it sells to supermarkets and food processing companies. Because of concerns about cholesterol and fat in cheese, the company has seen demand for its products decline ...
Post your question