The warehouse capacity of a given product is of 3 items at most. The daily demand for this product is given by the following probability distribution: p(0) = 0.3; p(1) 0.25, p(2)1.25, p(3+)=0.2, where 3+ means 3 or more. When the remaining items at the end of a day are less than 2, an order is made at the start of the next day to replenish the level at 3 items (to be available at the start of the next day).
Provide a transition probability matrix on the inventory level of this product at the start of each day, starting with 3 items.
Show how to calculate the probability of depleting the entire stock of 3 items in two days?
Show how to calculate the expected time between two consecutive orders?
Show how to calculate the long-run fraction of time the stock is empty?
Question 3: Rework of failed items in a given production facility alternates between two processes. After each operation, the quality control manager evaluates whether rework necessitates to be done again in the same process or in the other one. Eventually, the quality control manager decides on whether the defective item should be classified as good item or scrap. In either case, no rework is made afterward. Past experience shows that the transitions of a defective item over process 1, process 2, “good”, or “scrap” are described by the following transition matrix in the respective order.
1/5 2/5 1/5 1/5 1/6 1/2 1/6 1/6 P= 0 0 1 0 0 0 0 1 1. The daily average of defective items is 25. All items must start by process
How many end up “good” items in the average?
The average rework time in each process is of 2 hours. How long it takes in the average for an item in rework?
The cost of rework is 15 Dollars per hour in process I and 10 Dollars per hour in process
What is the expected daily loss due to reworking defective items that end up scraps?
QUALITY: 100% ORIGINAL – NO PLAGIARISM
(USA, AUS, UK & CA PhD. Writers)
About Our Service
We are an online academic writing company that connects talented freelance writers with students in need of their services. Unlike other writing companies, our team is made up of native English speakers from countries such as the USA, UK, Canada, Australia, Ireland, and New Zealand.
- At ClassicWritersBay.com, most of our writers are degree-holding native speakers of English who are familiar with various writing styles. Our writers are proficient in many fields, including Economics, Business, Accounting, Finance, Medicine, Chemistry, Literature, Mathematics, Statistics, and many others.
- Making our customers happy is an important part of our service. So do not be surprised if you get your paper well before the deadline!
- We pay a lot of attention to ensuring that you get excellent customer service. You can contact our Customer Support Representatives 24/7. When you order from us, you can even track the progress of your paper as it is being written!
- We are attentive to the needs of our customers. Therefore, we follow all your instructions carefully so that you can get the best paper possible.
- It matters to us who writes for you, and we are serious about selecting the best candidates.
- Our writers are always learning something new, so they are familiar with the latest developments in the scientific world and can write papers with updated information and the latest findings.
- Quality original papers that follow your instructions carefully.
- On time delivery – you get the paper before the specified deadline.
- Attentive Customer Support Representatives available 24/7.
- Complete confidentiality – we do not share you details or papers with anybody else.