Statewide Development Corporation has built a very large apartment complex in Gainesville, Florida. As part of the

Question:

Statewide Development Corporation has built a very large apartment complex in Gainesville, Florida. As part of the student-oriented marketing strategy that has been developed, it is stated that if any problems with plumbing or air conditioning are experienced, a maintenance person will begin working on the problem within one hour. If a tenant must wait more than one hour for the repairperson to arrive, a $10 deduction from the monthly rent will be made for each additional hour of time waiting.
An answering machine will take the calls and record the time of the call if the maintenance person is busy. Past experience at other complexes has shown that during the week when most occupants are at school, there is little difficulty in meeting the one hour guarantee. However, it is observed that weekends have been particularly troublesome during the summer months.

1. Use simulation to help you analyze this problem. State any assumptions that you are making about this situation to help clarify the problem.
2. On a typical weekend day, how many tenants would have to wait more than an hour, and how much money would the company have to credit these tenants?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Quantitative Analysis For Management

ISBN: 162

11th Edition

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

Question Posted: