Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In parts a to c, you will design a SIMULATION experiment over 15 days (i.e. 15 trials). The following random numbers from 00-99 have already

image text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribed
In parts a to c, you will design a SIMULATION experiment over 15 days (i.e. 15 trials). The following random numbers from 00-99 have already been generated. List 1 - Random numbers to determine the units demanded daily. Start at the top of the list. There may be more random numbers than you need. 15 35 64 6 44 31 88 25 78 62 10 30 65 94 4 15 79 73 32 12 List 2 - Random numbers to determine the lead time (days) of shipment. Start at the top of the list. There may be more random numbers than you need. 1 9 1 1 54 22 72 82 12 26 6 98 63 59 89 In parts a to c, you will design a SIMULATION experiment over 15 days (i.e. 15 trials). The following random numbers from 00-99 have already been generated. List 1 - Random numbers to determine the units demanded daily. Start at the top of the list. There may be more random numbers than you need. 15 35 64 6 44 31 88 25 78 62 10 30 65 94 4 15 79 73 32 12 List 2 - Random numbers to determine the lead time (days) of shipment. Start at the top of the list. There may be more random numbers than you need. 1 9 1 1 54 22 72 82 12 26 6 98 63 59 89 a) Using simulation (by hand or by Excel) and the first list of random numbers, run a simulation with 15 trials/days to determine daily demand for the monitors. Start from the TOP of random number List 1. (Start random number assignment from 01.) What are the average quantities of demand for this computer monitor? (42 marks) b) Based on the results of part (a), calculate the following variables for day 1: 1) Beginning-day inventory 2) demand satisfied by Susan 3) ending-day inventory 4) Inventory Position (defined as ending inventory on hand plus outstanding orders) 5) Order decision (whether Susan should make new orders at the end of the day) (20 marks) c) Based on the results of part (a) and (b), simulate the lead time shipments of Susan's orders, if needed. Start from the TOP of random number List 2. (Start random number assignment from 01.) What is the average beginning-day inventory of the simulated 15 days? (38 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Technology Ventures From Idea To Enterprise

Authors: Thomas Byers

5th Edition

1260048497, 9781260048490

More Books

Students also viewed these Mathematics questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago

Question

1. Build trust and share information with others.

Answered: 1 week ago