ASSIGNMENTS ON ANALYSIS FOR BUSINESS DECISION II

1.  A book seller in Ikenne-Remo Ogun State wishes to keep a particular book in stock. The previous experiences of daily demand with associated frequency are given as follows:

Daily Unit (Demand)	Frequency
5	1
15	20
25	15
35	50
45	12
55	2

Required:

(a) Simulate by Monte Carlo, the demand for next 10days using the random numbers 30,44, 70, 81, 17, 10, 35, 60, 78 and 25.

(b) Obtain the average daily demand.

2. The distribution of arrivals and services of Owonikoko Petrol Station is given as follows:

Inter Arrival Time      Distribution       Services Time     Distribution

(Minutes)                  Frequency         (Minutes)              Frequency

08                               10                                      03               16

13                               40                                               08               28

18                               60                                               13               36

23                               50                                               18               48

28                               30                                               23               44

33                               10                                               28               28

If the customers arrived at the service point is random the queue discipline is first come, first serve and Owonikoko Petrol Station opens from 6a.m.

Random numbers are given in the table:

Run	1	2	3	4	5	6	7	8	9	10
Arrival	50	07	60	32	83	66	99	30	73	26
Service	15	04	75	84	90	58	87	98	43	20

Required: Determine:

(i)                The average waiting time

(ii)             The average service time

(iii)           The average arrival time

(iv)           The clock time average waiting time

  

3.   (a)  Prove that :

              Q = 2 DCo

                   Cc

 Hint: Total ordering cost is equal to total carrying cost.

 (b) What are the assumptions that underlying the operation of EOQ Model.

(c)  The annual demand of a product by Aseye Nigeria Limited is 5,000 units, ordering costs are N100 and the basic unit price is N5, carrying costs are 20% per annum.

         Discount are available thus:

         1200 – 1399 less 10%

          1400 – 1499 less 15%

          1500 and over less 20%

 What is the most economic quantity to order.

4.  A construction company has four construction project (A, B, C, D) and wants to assign four site Engineer (X, Y, W, Z) who will supervise the jobs. Based on the following table of cost (in thousand naira) , determine the optimal assignment.

      

Site	Road
Engineer	A	B	C	D
X	40	43	50	31
Y	76	32	99	49
W	41	32	83	58
Z	57	61	72	55

  

5  . (a) What is Games Theory?

     (b) Distinguish between Zero-Sum Game and Non-Zero Sum Game.

     (c) A Foyegbe Nigeria Limited wants to embarks on an advertisement

          strategy in respects of  two products:

Product X		Product Y
		Y1	Y2	Y3
	X1	8	7	4
	X2	4	5	8
	X3	3	6	9

 Determine the equilibrium position of the company.

                 IN ALL YOUR GETTING, GET WISDOM!  ^{BRITS LINKS}