A construction site requires the use of a loader, a truck and a crane. Further, there...

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A construction site requires the use of a loader, a truck and a crane. Further, there is room for only one of these machines to operate at the site at each time and the other two machines will be idle during that time. Below is the time that it will take for each machinery to do its job and the daily cost of it laying idle: being idle Truck SAR SAR Loader Crane 40,000 SAR Days to complete the job 3-5 4-7 5-10 Daily cost of 5,000 20,000 Consider all the six variation of employing these machinery e.g., First the Truck (T), then the Loader (L) followed by the Crane (C), i.e., (T, L, C) or (L, T, C), ...etc a) For each variation, estimate the expect cost of idling and its standard deviation. b) Plot expected costs vs standard deviations for the six variation. A construction site requires the use of a loader, a truck and a crane. Further, there is room for only one of these machines to operate at the site at each time and the other two machines will be idle during that time. Below is the time that it will take for each machinery to do its job and the daily cost of it laying idle: being idle Truck SAR SAR Loader Crane 40,000 SAR Days to complete the job 3-5 4-7 5-10 Daily cost of 5,000 20,000 Consider all the six variation of employing these machinery e.g., First the Truck (T), then the Loader (L) followed by the Crane (C), i.e., (T, L, C) or (L, T, C), ...etc a) For each variation, estimate the expect cost of idling and its standard deviation. b) Plot expected costs vs standard deviations for the six variation.

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The six variations of employing the machinery are T L C Truck first then Loader then Crane T C L Tru... View the full answer