The travel time to locate a part in a hospital facility consists of three movements. Variable...
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The travel time to locate a part in a hospital facility consists of three movements. Variable X is the time to travel to the correct aisle. Variable Y is the time to travel to the correct location along the aisle. Variable Z is the time to find the correct location on the shelves. Assume that the distributions of X, Y, and Z are as follows: X~ Uniforms with minimum 25 and maximum 50 seconds Y~ Triangular with minimum 10, maximum 25 seconds, and most likely travel time of 15 seconds. Z ~ Truncated-normal with minimum 2, mean 6, and standard deviation 2 seconds. Develop a Monte Carlo simulation model based on 100,000 random observations that estimate the mean and standard deviation of the total time it takes to locate a part. Show the simulation result by a histogram for the total time it takes to locate a part. Estimate the probability that the time to locate a part exceeds 70 seconds. Graphically explain the probability by adding a vertical line at 70 seconds to the histogram of part b. The travel time to locate a part in a hospital facility consists of three movements. Variable X is the time to travel to the correct aisle. Variable Y is the time to travel to the correct location along the aisle. Variable Z is the time to find the correct location on the shelves. Assume that the distributions of X, Y, and Z are as follows: X~ Uniforms with minimum 25 and maximum 50 seconds Y~ Triangular with minimum 10, maximum 25 seconds, and most likely travel time of 15 seconds. Z ~ Truncated-normal with minimum 2, mean 6, and standard deviation 2 seconds. Develop a Monte Carlo simulation model based on 100,000 random observations that estimate the mean and standard deviation of the total time it takes to locate a part. Show the simulation result by a histogram for the total time it takes to locate a part. Estimate the probability that the time to locate a part exceeds 70 seconds. Graphically explain the probability by adding a vertical line at 70 seconds to the histogram of part b.
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Taxes And Business Strategy A Planning Approach
ISBN: 9780132752671
5th Edition
Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
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