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Develop a spreadsheet simulation model to determine the total cost for each replacement policy over 1000 hours.Use at least 50 trials for each policy (60
- Develop a spreadsheet simulation model to determine the total cost for each replacement policy over 1000 hours.Use at least 50 trials for each policy (60 pts).
- Analyze the "Mean" costs and then compare them under the two replacement policies.Use each of the below tools to compare the Means;
- t-Test (5 pts).
- Anova (5 pts).
- Confidence Interval (5 pts).
- Make recommendations.Summarize and write a one-page formal report related to your findings (5 pts).
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Stochastic Analysis For Poisson Point Processes
Authors: Giovanni Peccati, Matthias Reitzner
1st Edition
3319052330, 9783319052335
