Question: Reconsider the Heavy Duty Co , problem that was presented as Example 2 in Section 1 2 . 1 . For each of the following
Reconsider the Heavy Duty Co problem that was presented as Example in Section For each of the following three options in parts a through c obtain an estimate of the expected cost per day by using Analytic Solver to perform trials of a computer simulation of the problem on a spreadsheet. Estimate the mean and generate a frequency chart.
a The option of not replacing a motor until a breakdown occurs.
b The option of scheduling the replacement of a motor after four days but replacing it sooner if a breakdown occurs
c The option of scheduling the replacement of a motor after five days but replacing it sooner if a breakdown occurs
d An analytical result of $ per day is available for the expected cost per day if a motor is replaced every three days. Comparing this option and the above three, which one appears to minimize the expected cost per day?Reconsider the Heavy Duty Co problem that was presented as Example in Section For each of the following three options in parts a through c obtain an estimate of the expected cost per day by using Analytic Solver to perform trials of a computer simulation of the problem on a spreadsheet. Estimate the mean and generate a frequency chart.
a The option of not replacing a motor until a breakdown occurs.
b The option of scheduling the replacement of a motor after four days but replacing it sooner if a breakdown occurs
c The option of scheduling the replacement of a motor after five days but replacing it sooner if a breakdown occurs
d An analytical result of $ per day is available for the expected cost per day if a motor is replaced every three days. Comparing this option and the above three, which one appears to minimize the expected cost per day?
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