| | ABSTRACT James, Ernie and Terri decided to open a copy center to fulfill a need for closer access to copy machines in their community. After buying their first copier, they learned some of the pitfalls associated including the breakdown of the machinery and the potential loss of revenue associated with the breakdown. Before borrowing the additional funds needed to purchase a backup copier, they wanted to get a reasonable estimate of what the potential loss of revenue would be to determine
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Jet Copies Breakdown Cumulative Prob Time Between Breakdown Probability Cumulative Probability Repair Time (days) Probability (Uniform) Cumulative Probability Sales Vol. F(x) = .0275x2 x = 20*sqrt(r/11) 0.20 0 1 0.143 0 2000 0.45 0.20 2 0.143 0.143 3000 0.25 0.65 3 0.143 0.286 4000 0.10 0.90 4 0.143 0.429 5000 0.143 0.571 6000 0.143 0.714 7000 0.143 0.857 8000 Breakdowns "Random
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gave me that average. Of course these numbers can change from time to time. Upon gathering all of this info I need to find the loss of revenue for JET Copies. They estimated that they could produce 2,000 to 8,000 copies in a months’ time. That means possible revenue per day between $200 to $800. On the average of those copies we found that 5000 copies were or could be successful per day, which means the
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In the Jet Copies Case Study, we are introduced to three college students: James, Ernie, and Terri. They have discovered that they have a possible solution to two separate problems that they face: the need to make money and the lack of adequate copy services near the university that they attend. The three students decide to open their own copy service but soon discovered that they may have acted too soon in their decision. The first obstacle they had was the initial purchase of equipment. Without
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Jet Copies Shaneka Thompson Assignment 1 Math 540 Case Problem Finding the average days of repair in the simulation, first you click on the module at the top and scroll to simulation. Click simulation and open new file. There was a pop up box which you label. I labeled mine Average days of repair. Then I picked 4 categories and put in 100 trails and clicked Ok. When the spreadsheet came up I place in the value section 1, 2, 3, 4 and he frequency I placed 0.2, 0.45., 0.25, and 0.10 and clicked
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Jet Copies DAYS TO REPAIR The days to repair component was calculated by using the probability distribution of repair times given. This was used along with a set of random numbers based on 100 breakdowns a year. Then, a vlookup was used and the probability distribution per day to come up with the days to repair, which varies based on the random number that excel generates. The random number represents the probability of how many days it would take to repair the copier. TIME BETWEEN BREAKDOWNS
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Porsha is the manager of the South-Atlantic office of the Stateline Shipping and Transport Company is negotiating a shipping contract with Polychem. This company would like Stateline to pick up and transport their waste products from their six plants to three waste disposal sites. In efforts to minimize the potential hazardous barrels if leaks occur, she is seeking a possibility that using the plants and waste disposal sites as intermediate shipping points could lower the overall shipping costs
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Q5.In a word processing program, write a brief description/explanation of how you implemented each component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it together). Days to repair With regards to the days to repair component, it was calculated by using the probability distribution of repair times that was given. This was used along with a set of random numbers based on 100 breakdowns a year. Then, a vlookup
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Assignment #1: JET Copies Case Problem Strayer University MAT540: Quantitative Methods October 29, 2013 JET Copies is a company designed to alleviate a longer commute and longer wait time, and possibly have a more cost efficient method for the college students to make copies. The three students James, Ernie, and Terri decided to go into business together with a copying business initiative. Considering what was ahead of the new business, for example, possible machine downtime and days to repair
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not JET Copies, a new copier company established by three friends, should purchase a smaller copier as a backup for the primary copier when the primary copier is not in service. The owners of the company have purchased a primary copier similar to the one in the dean’s school of business. During making their decision to purchase, the owners received positive information from the seller regarding the copier reliability. The price of the primary copier is $12,000. Terri, one of the owners of JET Copier
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