An increase in the size of the barge unloading crew at the Port of New Orleans (see

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An increase in the size of the barge unloading crew at the Port of New Orleans (see Section 14.5) has resulted in a new probability distribution for daily unloading rates. In particular, Table 14.10 may be revised as shown here:
DAILY UNLOADING RATE PROBABILITY
1 .............. 0.03
2 .............. 0.12
3 .............. 0.40
4 .............. 0.28
5 .............. 0.12
6 .............. 0.05
(a) Resimulate 15 days of barge unloadings and compute the average number of barges delayed, average number of nightly arrivals, and average number of barges unloaded each day. Draw random numbers from the bottom row of Table 14.4 to generate daily arrivals and from the second-from-the-bottom row to generate daily unloading rates.
(b) How do these simulated results compare with those in the chapter?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Quantitative Analysis For Management

ISBN: 162

11th Edition

Authors: Barry Render, Ralph M. Stair, Michael E. Hanna

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