Question
Assume that a Swiftoil station guarantees that a lube job with multipoint checks will be completed within 15 minutes. Swiftoil charges $30 for jobs completed
Assume that a Swiftoil station guarantees that a lube job with multipoint checks will be completed within 15 minutes. Swiftoil charges $30 for jobs completed within 15 minutes, $10 otherwise. From past records, oil-change time is normally distributed with a mean of 8 minutes and a standard deviation of 2 minutes, while the multipoint check is exponentially distributed with a mean of 6 minutes. Using the following random numbers: .89, .31, .14, .68, and .53 for the oil changes and .94, .55, .43, .77, and .81 for the multipoint checks, compute total service time, Swiftoil's revenue from the 5 customers, and the loss of potential revenue (if any).
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