QUAN 202 ChapQUAN 2020Chap. 13 Homework Assignment(These problems are “custom” – not found in the text)1. Clark Property Management is responsible for the...

I need this to be readily available through ecxell please!


QUAN 202 Chap QUAN 2020 Chap. 13 Homework Assignment (These problems are “custom” – not found in the text) 1. Clark Property Management is responsible for the maintenance, rental, and day-to-day operation of a large apartment complex on the east side of New Orleans. Air conditioning failures are relatively common, and cost an average of $1,525 each to repair. George Clark would like to simulate air conditioner failures in order to determine the amount he should budget for these repairs. Based on his records of recent years, along with manufacturer’s reliability data, Clark establishes the following table of relative frequency of failures during one year: Use Clark’s data to simulate 50 years of failures. Based on your simulation, how much should Clark budget each year to cover the cost of A.C. repairs? 2. Historically, the number of cars arriving per hour at Lundberg’s Car Wash is observed to be the following: a. Set up a probability distribution table (including the lower end of the probability range) for the car arrivals. b. Simulate 25 hours of car arrivals. What is the average number of arrivals per hour? c. Repeat part b multiple times (by pressing F9). Over what range does the average number of arrivals vary? d. Now simulate 500 hours of car arrivals. What is the average number of arrivals per hour? e. Repeat part d multiple times (by pressing F9) Over what range does the average number of arrivals vary? f. Do your answers for part c and e differ? Why or why not? 3. Weekly demand for golf balls at the Happy Valley Golf Club pro shop is normally distributed with a mean of 55 cases and a standard deviation of 10.4 cases. The club gets a profit of $44 per case. a. Simulate 52 weeks of demand, and calculate the average weekly profit. b. What is the probability that weekly profit will exceed $3000? 4. a. Using the retirement simulation spreadsheet that we created in class (based on file, “Retirement planning sim template,” posted on Canvas), set the savings rate to 12.5% (instead of the 10% default value in the original simulation). Simulate 200 30-year careers. b. What percent of the time will the investment portfolio be worth more than $1,100,000? c. What is the probability that the portfolio will be worth less than $750,000? DGL Aug 21 310 430 550 665 745 Total:200 Number of cars arriving Frequency 00.06 10.13 20.28 30.13 40.20 50.15 60.05 Number of A.C. Failures Probability (Relative Frequency)