A mechanic who works in the maintenance center of a large company and requires an average time of 4 hours to repair a machine, distributed exponentially. Damaged machines arrive in a queue based on a Poisson check-in process at an average rate of 0.25 per hour. If the mechanic used a more modern tool, the average repair time would be reduced to 2.5 hours (also exponentially distributed). If an hour of standby for a machine costs USD25, calculate the expected hourly savings that would result from using the latest tool.

A mechanic who works in the maintenance center of a large company and requires an average time of 4 hours to repair a machine, distributed exponentially. Damaged machines arrive in a queue based on a Poisson check-in process at an average rate of 0.25 per hour. If the mechanic used a more modern tool, the average repair time would be reduced to 2.5 hours (also exponentially distributed). If an hour of standby for a machine costs USD25, calculate the expected hourly savings that would result from using the latest tool.

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 35EQ

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