A warehouse manager at Mary Beth Marrs Corp. needs to simulate the demand placed on a product that does not fit standard models. The concept being measured is "demand during lead time," where both lead time and daily demand are variable. The historical record for this product, along with the cumulativedistribution, appear in the table.
Demand During Lead Time |
Probability |
Cumulaive Probability |
||
100 |
0.01 |
0.01 |
||
120 |
0.15 |
0.16 |
||
140 |
0.25 |
0.41 |
||
160 |
0.20 |
0.61 |
||
180 |
0.04 |
0.65 |
||
200 |
0.08 |
0.73 |
||
220 |
0.27 |
1.00 |
The following random numbers have been generated:
64,
83,
79,
1,
and
56.
(Note: Assume the random number interval begins at 01 and ends at
00.)
Based on the given probabilty distribution, for the given random number the demand during the lead time is:
Random Number |
Demand |
|
64 |
nothing |
83 |
nothing |
79 |
nothing |
1 |
nothing |
56 |
nothing |
The average demand during the lead time is
nothing
(enter your response as an integer).The total demand during the lead time based on the five simulations is
nothing
(enter your response as an integer).
Enter your answer in each of the answer boxes.
Simulation of demand during lead time is following:
EXCEL FORMULAS:
Demand During Lead Time | Probability | Random number interval | |
100 | 0.01 | 0 | =B2*100+C2 |
120 | 0.15 | =D2 | =B3*100+C3 |
140 | 0.25 | =D3 | =B4*100+C4 |
160 | 0.2 | =D4 | =B5*100+C5 |
180 | 0.04 | =D5 | =B6*100+C6 |
200 | 0.08 | =D6 | =B7*100+C7 |
220 | 0.27 | =D7 | 00 |
Random Number | Demand | ||
64 | =LOOKUP(A12,$C$2:$C$8,$A$2:$A$8) | ||
83 | =LOOKUP(A13,$C$2:$C$8,$A$2:$A$8) | ||
79 | =LOOKUP(A14,$C$2:$C$8,$A$2:$A$8) | ||
1 | =LOOKUP(A15,$C$2:$C$8,$A$2:$A$8) | ||
56 | =LOOKUP(A16,$C$2:$C$8,$A$2:$A$8) | ||
The average demand during lead time is = | =AVERAGE(B12:B16) |
A warehouse manager at Mary Beth Marrs Corp. needs to simulate the demand placed on a...
A warehouse manager at Mary Beth Marrs Corp. needs to simulate the demand placed on a product that does not fit standard models. The concept being measured is "demand during lead time," where both lead time and daily demand are variable. The historical record for this product, along with the cumulative distribution, appear in the table. DOODC Demand During Lead Time Cumolaive Probability Probability 140 001 001 160 0.15 0.16 of 180 0.25 0.41 0.15 0.06 056 0.62 070 200...
A manager is trying to decide whether to buy one machine or two. If only one machine is purchased and demand proves to be excessive, the second machine can be purchased later. Some sales would be lost, however, because the lead time for delivery of this type of machine is six months. In addition, the cost per machine will be lower if both machines are purchased at the same time. The probability of low demand is estimated to be 0.20...
Write a C++ program named, gradeProcessor.cpp, that will do the following tasks: -Print welcome message -Generate the number of test scores the user enters; have scores fall into a normal distribution for grades -Display all of the generated scores - no more than 10 per line -Calculate and display the average of all scores -Find and display the number of scores above the overall average (previous output) -Find and display the letter grade that corresponds to the average above (overall...
SYNOPSIS The product manager for coffee development at Kraft Canada must decide whether to introduce the company's new line of single-serve coffee pods or to await results from the product's launch in the United States. Key strategic decisions include choosing the target market to focus on and determining the value proposition to emphasize. Important questions are also raised in regard to how the new product should be branded, the flavors to offer, whether Kraft should use traditional distribution channels or...
1. When it comes to financial matters, the views of Aristotle can be stated as: a. usury is nature’s way of helping each other. b. the fact that money is barren makes it the ideal medium of exchange. c. charging interest is immoral because money is not productive. d. when you lend money, it grows more money. e. interest is too high if it can’t be paid back. 2. Since 2008, when the monetary base was about $800 billion,...