A simple model is sometimes used in order to illustrate the production-scheduling maxim, balance flow, not capacity.
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Now suppose that six orders are to be scheduled tomorrow. Using average times, we would expect that completion times would look like the following:
and we would expect that the schedule length would be 480 minutes. Suppose that actual operation times are random and follow a triangular distribution with a minimum of 30 minutes and a maximum of 90 minutes. Note: no order can start at a station until the previous order has finished.
a. What is the mean schedule length?
b. What is the probability that the schedule length will exceed 480 minutes?
c. Change the range of the distribution from 60 to 40 and to 20, and then repeat (a) and (b). What is the mean schedule length in each case? What do you conclude from these observations?
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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Related Book For
Management Science The Art Of Modeling With Spreadsheets
ISBN: 1301
4th Edition
Authors: Stephen G. Powell, Kenneth R. Baker
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