JET Copies is a photocopy business opened by James, Ernie, and Terri, three students who wanted to make it more suitable for other students in their apartment complex to get copies in a judicious manner. After obtaining a copy machine for the business with an advance from Terri’s mother, the students quickly began deliberating the numerous breakdowns that may transpire. It was at that point that the three students decided they needed a backup copier. Nevertheless, the students desired to first have an estimate of how much money they would be losing if they did not have a backup copier (Taylor, 2010). This paper will deliberate methods that mimic the number of days required to repair the copier, the intervals between consecutive breakdowns, and the lost revenue for each day the copier is out of service. All of these approaches together will mimic the lost revenue due to copier interruptions over 1 year.
1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown.
2. In Excel, use a suitable method for simulating the interval between successive breakdowns, according to the continuous distribution shown.
3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of service.
4. Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study.
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