# Business Finance : MAT540 Probability Distribution and Simulation Excel Assignment

1. The Hoylake Rescue Squad receives an emergency call every 1, 2, 3, 4, 5, or 6 hours, according to the following probability distribution. The squad is on duty 24 hours per day, 7 days per week: Time Between Emergency Calls (hr.) Probability 1 0.15 2 0.10 3 0.20 4 0.25 5 0.20 6 0.10 1.00

a. Simulate the emergency calls for 3 days (note that this will require a “running” , or cumulative, hourly clock), using the random number table.

b. Compute the average time between calls and compare this value with the expected value of the time between calls from the probability distribution. Why are the result different?

2. The time between arrivals of cars at the Petroco Services Station is defined by the following probability distribution: Time Between Emergency Calls (hr.) Probability 1 0.35 2 0.25 3 0.20 4 0.20 1.00 M

a. Simulate the arrival of cars at the service station for 20 arrivals and compute the average time between arrivals.

b. Simulate the arrival of cars at the service station for 1 hour, using a different stream of random numbers from those used in (a) and compute the average time between arrivals.

c. Compare the results obtained in (a) and (b).

3. The Dynaco Manufacturing Company produces a product in a process consisting of operations of five machines. The probability distribution of the number of machines that will break down in a week follows: Machine Breakdowns Per Week Probability 0 0.10 1 0.20 2 0.15 3 0.30 4 0.15 5 0.10 1.00

a. Simulate the machine breakdowns per week for 20 weeks.

b. Compute the average number of machines that will break down per week.

4. Simulate the following decision situation for 20 weeks, and recommend the best decision. A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in college junction, where the game is to be held. The manager estimates that the following profits will result from each decision, given each set of weather conditions: Decision Weather Conditions Rain 0.35 Overcast 0.25 Sunshine 0.40 Sun visors \$-400 \$-200 \$1,500 Umbrellas 2,100 0 -800

5. Every time a machine breaks down at the Dynaco Manufacturing Company (Problem 3), either 1, 2, or 3 hours are required to fix it, according to the following probability distribution: Repair Time (hr.) Probability 1 0.20 2 0.50 3 0.30 1.00 Simulate the repair time for 20 weeks and then compute the average weekly repair time

### Related Questions

##### Creating Your Ideal State...

Your country just overthrew its dictator, and you are the newly elected President. Unfortunately, due to the divisions in the country and the years...

##### en101 week 3...

English Composition I – Week 3 AssignmentNarrative EssayThis essay explores the Narrative Mode, which is perhaps the most natural style of writing f...

##### Questions need to be answered for Master applicati...

one of my friends want to apply for master degree in Project management and he has to answer these questions, (Each question should be answered in...

##### en101 week 2...

English Composition I – Week 2 AssignmentPrewriting and Outlining for the Narrative EssayThis week, you will be preparing for next week’s essay: t...

##### en101 week 1...

Literacy NarrativeA Literacy Narrative is a special kind of essay in which the writer describes his or her relationship with reading or writing. A nar...

##### week 3 part 1...

Part 1Select one of the following scenarios based on your particular field of interest in psychology:· Industrial/Organizational Psychology:  ...

##### In the event that any outside resources are used,...

WRITTEN INTERVIEW QUESTIONSPhD candidates should provide an authentic personal statement reflecting on their own personal interest. In the event tha...

##### how the Chinese people to communicate and the Amer...

This paper needs to include: Title page, introduction of specific nonverbal subcode, review of literature, rationale, research question, and reference...

##### Intro to Humanities...

Were going to cover Renaissance from. The birth of the renaissance in 1400s to 1510.  This must be done by Saturday the 22 of June.  All instruction...

##### Geography assignment...

Using all available resources, locate as many of the following Spokane address as you can. Transfer the approximate location of each address to your S...

##### Anyone, Airline line industry knowledgeable (Boein...

Looking for a 6 page essay with references and plag checked –APA format, on The Boeing Company its history and its present situation regarding t...

##### PAPER...

The purpose of this project is for you to demonstrate an understanding between entrepreneurs and small business owners.  You will also be relating ho...

##### week3 practice worksheet #6...

6. A psychology professor of a large class became curious as to whether the students who turned in tests first scored differently from the overall...

##### management...

t is Term paper and the subject is (The differences between children who raised by stay at home mothers and working mothers) i want you to do just H...

##### paper on gallups strengths finder assessment; res...

Assignment: Strengths FinderIn this Assignment, you will complete Gallup’s StrengthsFinder assessment. This assessment will identify your personal s...

##### management...

did you check the file? four paper of LITERATURE REVIEW need it on 5 marchthe time is very importantyou can check in filei explain everythingand I...

##### Lesson Plan Unit...

Unit plans are used to organize, sequence, and content. You will create a mini-unit with three lessons, including the lesson you started in Week 1....

##### Living by a Code of Ethics...

Conduct an Internet search for a code of ethics that aligns with Master of Public Health.  A code of ethics is important in guiding decision making,...

##### 3-4 paragraphs with references and no plagiarism...

Assignment DetailsSurvey research is still one of the most common ways to collect data in the public safety system. In this discussion, you will explo...

##### his 101...

Who wrote these words? If you don't know exact names, what body of men issued it? What was the DATE that it was written?  Who was expected to...

##### Module 05 Course Project - It's All About the...

Part I: HIV/AIDS has affected millions of people in the United States and the world since the 1980s. On a global scale, large numbers of people with H...

##### CHILD OBSERVATION ASSIGNMENT...

CHILD OBSERVATION ASSIGNMENT REPORTSummer 2019 CHILD OBSERVTION REPORT DESCRIPTION:will write two separate child Observation Reports to fulfill t...

##### discussion board 5...

Course Faculty MemberPrimary Discussion Response is due by Friday (11:59:59pm Central), Peer Responses are due by Tuesday (11:59:59pm Central).Discu...

##### 510 assignment...

TOPIC: administrative theory for the department of child services. Mix the workplace and hypothetical situations into this assignment.(from the view...

## If you didn't find the right answer

Ask Your Questions, We'll notify you once someone answers it