...JET Copies Case Problem Assignment #1 MAT540, Strayer University Assignment#1: JET Copies Case Problem According to the discrete distrubution, the number of days (y) needed to repair the copier is as follows (where “R2” is a random value in the excel sheet between and 0 and 1): 0 < R2 < .2, then it takes 1 day .2 < R2 < .65, then it takes 2 days .65 < R2 < .9, then it takes 3 days .9 < R2 < 1, then it takes 4 days James estimated that the time between break-downs was probably between 0 and 6 weeks, with the probability increasing the longer the copier went without breaking down. For simulating the interval between successive breakdowns: f(x) = x/18, 0 ≤ x ≤ 6 weeks where x= weeks between break-downs f(x) = x²/36, 0 ≤ x ≤ 6 weeks where x= weeks between break-downs f(x) = random number1 (R1) = x²/36 x = 6*sqrt(R1) 3. For simulating the lost revenue every day that the copier is out of service, select a random number (R3) between 2000 and 8000, since it is estimated that they would see between 2000 and 8000 copies a day. They will charge $0.10 per copy. Therefore, the lost revenue for each day the copier is out of service is equal to R3*.1*repair time. The amound of revunue lost is approxiamtely $12,934.80. Please see the attached excel sheet. In order to estimate the revenue lost for the one year of operations the simulation has been performed. The estimates indicated that the copies sales were between 2000 to 8000 pieces...
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...Forecasting Methods La Nesha H.Tyler MTH 540: Strayer University Scientific management is based on the applying systematic approaches to solving problems and making decisions. This guide to decision making provides a number of mathematical techniques derived from varied sources such as natural science, mathematics, engineering and statistics (Taylor, 2010). One such technique used in scientific management is the Forecasting method. A Forecast provides a reasonable prediction for a future event. Being able to predict the future can provide a valuable asset for any organization. Predictions will not always be one hundred percent accurate, but they can be a reasonable guide to making decisions based on systematic data. Taylor, 2010, discusses two widely used forecasting methods; time series analysis and regression. This project will present information on forecasting in the form of a storyboard. This project will provide an overview of forecast methods, how forecasts are measured, and identify different types of forecasting methods. According to author Bernard W. Taylor, 2010, “a variety of forecasting exist, and their applicability is dependent on the time frame of the forecast, the existence of patterns in the forecast, and the number of variables to which the forecast is related” (p.682). Time frame classifies forecast into three different categories, short –range, medium-range, and long-range forecast. Short-range forecast are forecast such as Weather forecast in that...
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...Contemporary Business August 16, 2011 Strayer University Dr. Robert L. Kight Assignment 4: iPad’s Security Breach This document will attempt to discuss hacking into a Web site. Is it ever justifiable? The document will create a corporate ethics statement for a computer security firm that would allow or even encourage activities like hacking. The document will discuss whether it is important for organizations like Gawker Media to be socially responsible. It will determine factors CEOs should consider when responding to a security breach. Finally, it will create an email script to be sent to AT&T customers informing them of the security breach and a plan to resolve the issue and state the rationale. Apply your theory to a real-world case in which someone hacked into a system, including the name of the company and details. As I attempt to discuss this assignment, I could not avoid thinking about the age-old opinion that Apple products were unique, and that they were protected against criminal encroachments. As such, Apple became one of the hottest technological innovations in the industry. Today, like most other such technology, Apple is becoming increasingly vulnerable to intrusion. It is becoming a medium for posing threats to an entire corporate network as well as devices for official and unofficial use. My answer to this question is twofold. In other words qualification of any kind for such conduct must be based on the circumstances thereof. For example, on August...
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...Strategic Management Plan (Name) (University) (Course) (Tutor) 12th February, 2012. Strategic management Plan Strategic management is a vital craft on the relationship between an organization and its environment. A goods strategy normally enables an organization to compete effectively in a given environment. Every organization is faced with an external environment in which they operate. The environment comprise of a macro environment which is defined by the economic, technological, social and political factors : an industrial environment which is marred by stiff competition and an operating environment which is filled with key player of the various sectors. All organizations are dependant to the environment. Being that the environment is dynamic, it changes fast changing and very turbulent. For organization to survive they have to adapt to these changes, they need to breed excellent strategies to coexist and survive. Strategy has been defined by Thompson and Strickland (1995) as a game plan management has for positioning a company in its chosen market arena, competing successfully to achieve a good business performance. Among other definition strategy is a long term direction for any organization and to achieve a competitive advantage. We need a strategic management plan to implement any strategy. The strategic process is guided as below: Determining the vision and mission of the firm Vision and mission provide direction and scope for the firm’s activities. A good...
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...probability range, r2 1 0.2 0.2 0.00 - 0.20 2 0.45 0.65 0.21- 0.65 3 0.25 0.9 0.66 - 0.90 4 0.1 1 0.91 - 1 2. Intervals between successive breakdowns: The probability distribution of the random variable varies between the times of 0 to 6 weeks, with the probability increasing as time goes on. This can be approximated by the function F(x) = x/18, for 0”x”6, where x= weeks between machine breakdowns Therefore the distribution function is: F(x) = x²/36 for 0”x”6 Lost revenue: Since the number of copies sold per day is a uniform probability distribution between 2000 to 8000 copies, r3 is a random number between 2000 and 8000. To get the amount of business lost on a particular day is r1, r2 and r3 are random number picked, as well as repair time, and the lost revenue is then calculated by their charging price of $0.10 per copy. Simulation Random Times between Cumulative S. Random Repair S. Random Z= 6r + 2 Lost Revenue Breakdowns r1 bkdowns X (weeks) time r2 time (y) r3 Z Copies # $ 1 45 4.02 4.02 61 2 19; 65 9.04 9040 904 2 90 5.7 9.72 11 1 51 5.06 5060 506 3 84 5.5 15.22 19 1 17 3.02 3020 302 4 17 2.47 17.69 58 3 63; 85; 37 17.1 17100 1710 5 74 5.16 22.85 30 2 89; 76 6.56 6560 656 6 94 5.82 28.67 95 4 71; 34; 11; 27 16.58 16580 1658 7 7 1.58 30.25 38 2 10; 59 8.14 8140 814 8 15 2.32 32.57 24 2 87; 08 9.7 9700 970 9 4 1.2 33.77 68 3 08; 89; 42 14.34 1434 43.4 10 31 3.34 37.11 41 2 79; 79 13.48 13480 1348 11 7 1.58 38.69 35 2 97; 26 11.38 11380 1138 12 99 5.97...
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...JET Copies Case Problem page 1 Assignment #1: JET Copies Case Problem By: Jenna Kiragis Quantitative Methods 540 7/29/2012 JET Copies Case Problem page 2 Case Problem JET Copies is a copy business opened by James, Ernie, and Terri, three students who wanted to make it more convenient for other students in their apartment complex to get copies in a timely manner. After obtaining a copy machine for the business with a loan from Terri’s mother, the students soon began discussing the frequent breakdowns that may occur. It was then that the three decided they needed a backup copier. However, the students wanted to first have an estimate of how much money they would be losing if they did not have a backup copier (Taylor, 2010). This paper will discuss methods that simulate the number of days needed to repair the copier, the intervals between successive breakdowns, and the lost revenue for each day the copier is out of service. All of these methods together will simulate the lost revenue due to copier breakdowns over 1 year. JET Copies Case Problem page 3 In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. Lost revenue of Jet Copies due to breakdown can be done by generating random numbers from different probability...
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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 the copier, they had to determine the average number of days that it would take for them to acquire a repair team to fix the machine in the event that it broke down. As discovered, the average time for repair was between one and four days. In order to calculate the average, a probability distribution was developed using Microsoft Excel. From there, the cumulative probability was obtained by adding the probability, P(x), from the previously itemized probabilities where the cumulative summation of a probability is always equal to one (1) or 100%. A random number formula, =RAND(), was plugged into the Microsoft Excel desired cell, in this situation, (H4), which generated a random range of numbers that are greater than or equal to zero and less than one. The interim time between breakdowns were achieved simply by soliciting the experience several staff members in the college of business who were familiar with frequency of the copier’s inconsistent behavior. It was estimated that the...
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...Explanation: I conducted a random simulation with the information provided based on 52 base week calendar. Author B. Taylor stated “simulation can be applied to a number of problems that are too difficult to model and solve analytically” (Taylor, 2009). In this case the results were based on the use of one copy machine, intervals of breakdown, requiring 1-4 days for repair at a loss, at $0.10 cents a copy. Day 1: 20%, Day 2: 45%, Day 3: 25%, Day 4: 10% a total probability of 100%. The point of this case study is to simulate the break-down and repair process for one year to obtain an average annual loss of revenue. In addition the amount of time between breakdowns increases the probability of needing more costly repairs. Should the anticipated lost revenue exceeds $12,000.00 annually a backup copier will be purchased. We must keep in mind the most important factors of customer satisfaction and convenience, which is what, prompted the owners of JET to start their business in the first place. The first part of creating the probability of breakdowns relied upon information supplied by Jet Copies and their estimated probability of distribution. The nearby college staff had prior knowledge of the service provider’s timelines for repair because they had the same copier in the campus office. JET used their own estimated repair time to recreate a random repair time probability table using a range of days. As a result the average repair time was 3 days at a cost of $691 per...
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...JET Copies Case Problem In analyzing the case, JET Copies Case Problem, the following categories will be addressed: Model number of days to repair 1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. JET copies needs to know the number of days they need to repair, when the copy machine is out of service. Using the given table, there are three columns of probability, repair time and cumulative. I used the figures given in case problem for probability and repair time days but for the cumulative column we started at 0.00 cumulative, then added the 0.20 to that to get the cumulative for day 2. For each probability subsequent to the previous we added, so for the 0.45 probability we added the 0.20 to get 0.65. Then repeating the same for the rest of probabilities, after 0.65 the cumulative resulted in 0.90. Then we used the table with ten columns. In the first column starting at A5, the formula entered was the =RAND() function to create random number for the first cell. That function formula was then dragged down to the below cells and locked to have the values be fixed. In the next column, I use the numbers copied from my first column. Then in the G5 column, we entered the function VLOOKUP to find the number of days needed to repair =VLOOKUP(F5,Lookup,2) and dragged the cell to have the same formula for the below cells in the column. Look up, in the...
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...Assignment #1: JET Copies Case Problem Read the “JET Copies” Case Problem on pages 678-679 of the text. Using simulation estimate the loss of revenue due to copier breakdown for one year, as follows: 1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. 2. In Excel, use a suitable method for simulating the interval between successive breakdowns, according to the continuous distribution shown. 3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of service. 4. Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study. 5. 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). 6. Answer the question posed in the case study. How confident are you that this answer is a good one? What are the limits of the study? Write at least one paragraph. Case Problem James Banks was standing in line next to Robin Cole at Klecko’s Copy Center, waiting to use one of the copy machines. “ Gee, Robin, I hate this,” he said. “We have to drive all the way over here from Southgate and then wait in line to use these copy machines...
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...Quantitative Methods -MAT 540 JET Copies Case Problem Assignment #1 Days-to-repair Terri was able to gather data from the college which allowed them to develop a table for the probability distribution of the wait for repair services on JET’s copier. To model the probability of wait times in the JET Copies simulation, the JET partners generated a random number representing the probability of an occurrence of a breakdown. They then programmed a VLOOKUP function to match this breakdown probability to the corresponding “Repair Time in Days” column of the table. The result is the simulated time to get repair service for each breakdown occurrence. Interval between breakdowns The James, Ernie, and Terri purchased a copier just like the one used at their college office. When Ernie talked with someone in the dean’s office at State, he was told that the University’s copier broke down frequently often for 1 to 4 days. The partners became worried that their machine would also frequently break down. Although they could not get an exact probability distribution, James was able to determine that breakdowns occurred between 0 and 6 weeks apart. The probability of a breakdown increased as time passed. To model the time between breakdowns in their simulation, JET created a list of random numbers. Next, they applied the probability function f(x) = 2x/a2 0≤ x ≤ a. For this situation, the formula used is x = a √r. Since James estimated breakdowns occur zero to six weeks apart...
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...(III Taylor, 2011) Assignment Week 3 Brief Description JET Copies was created to solve a problem of resource scarcity, James, Ernie, and Terri all students were having challenges trying to get their copies. They were traveling to another building outside of theirs and several students were using the same copier. James thought they could make a lot of money if they purchased a copier and charged students 0.10 cents a copy. So James, Ernie, and Terri borrowed $18,000.00 dollars from their parents and went into business. Simulation Estimate I took the example from page 647 in our text and used it as a template to create my model. I used the discrete distribution table shown on page 679 to gather my information that stipulated repair times in days with the corresponding probability. The probability distribution was located on page 679 as well and gave a 0 to 6 week timeframe between break downs. I used the continuous probability function in excel to show the values. To compute the loss of revenue over 1 year I calculated all values then divided them by the cumulative total divided by 52 weeks for an average annual cost of $ 58,231 dollars. Case Problem Question Should JET buy a backup copier for $ 8000.00 dollars so they do not lose revenue when their main copier is being fixed? Yes they should purchase a backup copier because the revenue lost will significantly impact their copy business. My confidence level is very solid, in the fact that a backup...
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...JET Copies Case Problem LaTonya Crutcher Dr. Emeka Dunu, MAT 540 6/3/13 In the JET Copies Case Problem the probability function of time between repairs is the one of the issues and the other is the loss of revenue if they do not purchase the new copier. We were asked to generate a random value for computation of times between breakdowns. Using these random numbers and the linear formula SQRT(R1)*6, which represents the slope and probability function for breakdown intervals, we were able to compute the interval between breakdowns. The amount of days in repair was one of the issues James, Ernie and Terry needed information. For each day the printer is down is equal to lost revenues and profits for their business. Using a probability look up chart based on assigned probabilities enabled us to randomly simulate the amount of time the printer would have been down or idle and losing print time. This is also another area that a broader random simulation may have helped us end at a more accurate and acceptable outcome. These values were cumulated and the total number of days in repair was calculated. A third set of random numbers were generated to use in our formula y=((6*R3)+2)*100 to calculate a dollar amount of lost revenues per day. These values were summed to get the number of annual lost revenues so that a decision could be made about purchasing a new copier. By formulating the range of random numbers to asses if there is a great need to purchase another copier...
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...to grade is within the Instructor Center. Click the link above to submit your assignment. Assignment #1: JET Copies Case Problem Read the "JET Copies" Case Problem on pages 678-679 of the text. Using simulation estimate the loss of revenue due to copier breakdown for one year, as follows: 1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. 2. In Excel, use a suitable method for simulating the interval between successive breakdowns, according to the continuous distribution shown. 3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of service. 4. Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study. 5. 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). 6. Answer the question posed in the case study. How confident are you that this answer is a good one? What are the limits of the study? Write at least one paragraph. There are two deliverables for this Case Problem, the Excel spreadsheet and the written description/explanation. Please submit both of them electronically via...
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...Chapter 11,12 MAT 540 WK 3 Assignment 1 – JET Copies Case Problem MAT 540 WK 3 Homework Chapter 14 MAT 540 WK 4 Assignment 2 – Internet Field Trip MAT 540 WK 4 Homework Chapter 15 MAT 540 WK 5 Midterm Exam MAT 540 WK 6 Homework Chapter 2 MAT 540 WK 6 Quiz 3 Chapter 2 MAT 540 WK 7 Assignment 3 Case Problem – Julia’s Food Booth MAT 540 WK 7 Homework Chapter 3 MAT 540 WK 8 Homework Chapter 4 MAT 540 WK 8 Quiz 4 Chapter 4 MAT 540 WK 9 Homework Chapter 5 MAT 540 WK 9 Quiz 5 Chapter 9 MAT 540 WK 10 Assignment 4 Case Problem – Stateline Shipping and Transport Company MAT 540 WK 10 Homework Chapter 6 MAT 540 WK 11 Final Exam Course Home Work aims to provide quality study notes and tutorials to the students of MAT 540 Entire Course Latest Strayer in order to ace their studies. MAT 540 ENTIRE COURSE LATEST STRAYER To purchase this visit following link: https://coursehomework.com/product/mat-540-entire-course-latest-strayer/ Contact us at: HELP@COURSEHOMEWORK.COM MAT 540 ENTIRE COURSE LATEST STRAYER MAT 540 WK 1 Homework Chapter 1,11 MAT 540 WK 1 Quiz 1 Chapter 1,11 MAT 540 WK 2 Homework Chapter 12 MAT 540 WK 2 Quiz 2 Chapter 11,12 MAT 540 WK 3 Assignment 1 – JET Copies Case Problem MAT 540 WK 3 Homework Chapter 14 MAT 540 WK 4 Assignment 2 – Internet Field Trip MAT 540 WK 4 Homework Chapter 15 MAT 540 WK 5 Midterm Exam MAT 540 WK 6 Homework Chapter 2 MAT 540 WK 6 Quiz 3 Chapter 2 MAT 540 WK 7 Assignment 3 Case Problem – Julia’s Food Booth MAT 540 WK 7 Homework...
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