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:

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  • 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.
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