Jet Copies

Jet Copies James, Terri, and Ernie took a leap into entrepreneurship by opening a copier business out of their duplex near a college campus. They borrowed the $18,000 from Terris parents to buy one industrial copier. After public lecture to someone in the universitys dean office, they learned that this pock of copier broke down frequently and took 1-4 twenty-four hourss to be meliorateed. With this new bit of information, they came up with a solution except wanted to run the numbers before asking for other loan. They could either risk the breakdown and loss of revenue or buy another smaller version of the copier to overlay the work while the other one was out of commission. If they disjointed $12,000 or more over a years time, then they would purchase the smaller copier as a backup. (Taylor, 2010). They used dissimulation models to pass off up with twenty-four hourss-to repair, interval mingled with breakdowns, and lost revenue. Terri gathered enough information from the college of business to come up with a opportunity of distribution of repair times (Taylor, 2010): Repair Time (days)Probability 10.20 20.45 30.25 40.10 1.00 From this, the group was able use simulation models in stick out to come up with the cumulative probability.

To find this, they used the supra information they obtain from the college of business and entered the formula on the habituated spreadsheet as D3+E3 (copied for each successive cell) for a four day repair time. The group will use this cumulative probability number to assign a number of days that it takes to repair the copier when they generate the random numbers in the adjacent quantitys. If the random number is surrounded by 0 and .20, it will be given a 1 day repair time. Also, betwixt 0.21 and 0.65 will be given a 2 day repair time, 0.66 and 0.90 will be given a 3 day repair time and 0.91 to 1 will be given 4 day repair time. The next step they wanted to do was figure out was how many weeks between breakdowns. This could also be done through a simulation model using the... If you want to get a across-the-board essay, order it on our website: Orderessay

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