Question

In: Finance

Susan Winslow has two alternative routes to travel from her home in Olport to her office...

Susan Winslow has two alternative routes to travel from her home in Olport to her office in Lewisburg. She can travel on Freeway 5 to Freeway 57 or on Freeway 55 to Freeway 91. The time distributions are as follows:

Freeway 5

Freeway 57

Freeway 55

Freeway 91

Relative

Relative

Relative

Relative

Time

Frequency

Time

Frequency

Time

Frequency

Time

Frequency

5

0.30

4

0.10

6

0.20

3

0.30

6

0.20

5

0.20

7

0.20

4

0.35

7

0.40

6

0.35

8

0.40

5

0.20

8

0.10

7

0.20

9

0.20

6

0.15

8

0.15

Do a five-day simulation of each of the two combinations of routes using the random numbers below. Based on this simulation, which routes should Susan take if her objective is to minimize her total travel time?

Freeway 5

63

88

55

46

55

Freeway 57

59

09

57

87

07

Freeway 55

71

95

83

44

34

Freeway 91

51

79

09

67

15

Then do a 365-day simulation of each of the two combinations of routes using Microsoft Excel. Based on this simulation, are the routes Susan should take different from the above? If so, why?

Solutions

Expert Solution

Statement of Random No. Of Range
For Freeway 5
Time Frequency Cummulative Frequency Range
5 0.3 30 0-29
6 0.2 50 30-49
7 0.4 90 50-89
8 0.1 100 90-99
For Freeway 57
Time Frequency Cummulative Frequency Range
4 0.1 10 0-9
5 0.2 30 10-29
6 0.35 65 30-64
7 0.2 85 65-84
8 0.15 100 85-99
For Freeway 55
Time Frequency Cummulative Frequency Range
6 0.2 20 0-19
7 0.2 40 20-39
8 0.4 80 40-79
9 0.2 100 80-99
For Freeway 91
Time Frequency Cummulative Frequency Range
3 0.3 30 0-29
4 0.35 65 30-64
5 0.2 85 65-84
6 0.15 100 85-99
Statemant of Simulated Data
Day Freeway 5 Freeway 57 Freeway 55 Freeway 91 Minimum Time Rought
R.No Time R.No Time R.No Time R.No Time Freeway Time
1 63 7 59 6 71 8 51 4 from 91 4
2 88 7 9 4 95 9 79 5 From 57 4
3 55 7 57 6 83 9 9 3 From 91 3
4 46 6 87 8 44 8 67 5 From 91 5
5 55 7 7 4 34 7 15 3 From 91 3

Related Solutions

Amy has two ways to travel from her home in Norco to her office in Los...
Amy has two ways to travel from her home in Norco to her office in Los Angeles. One is to go via the 10 Freeway, and the other is to go via 60 Freeway. In order to determine which way she should travel on a daily basis, Amy has recorded the travel times for samples of eleven trips via the 10 Freeway and eleven trips via the 60 Freeway. The following table gives the travel times (in minutes) for the...
Suppose that the travel time from your home to your office is a normal random variable...
Suppose that the travel time from your home to your office is a normal random variable with mean 40 minutes and standard deviation 7 minutes on Mondays-Thursdays, and a normal random variable with mean 35 minutes and standard deviation 5 minutes on Fridays. (a) If you want to be 95 percent certain that you will not be late for an office meeting at 1PM on a Monday, what is the latest time at which you should leave home? (b) Suppose...
Julie works as at home and is self-employed. She uses 17% of her home as office space. She has the following housing expenses: Painting of office $600,
Julie works as at home and is self-employed. She uses 17% of her home as office space. She has the following housing expenses: Painting of office $600, mortgage interest total $3,200, property taxes $1,800, utilities $2,400, and depreciation (if 100% business use) of $5,000. Ignoring any income limitations, what is Julie's home office deduction?O $13,000O $1,858O $2,708O $2,210
The ZMH Company has two divisions, Corporate Office Systems and Home Office Systems. You are building...
The ZMH Company has two divisions, Corporate Office Systems and Home Office Systems. You are building the budget for Home Office Systems. The forecast included 2019 year's sales of $35,000,000. There was a common sales team for both devisions. 35% of the sales team would be dedicated to Home Office Systems. Sales reps for Home Office would earn a 20% commission on sales of Home Office Systems. Home Office Systems would be charged for 35% of the fixed direct costs...
Susan is beginning to plan college savings accounts for her two children. Her son Bobby is...
Susan is beginning to plan college savings accounts for her two children. Her son Bobby is 8 and will begin college in 10 years when he turns 18. Her daughter Mallory is 2 and will begin college in 16 years when she is 18. Susan plans to deposit $10,000 per year starting next year into a joint account that earns 8.0% annually. Her last deposit will occur in the year that Bobby starts school. If Bobby’s schooling costs $25,000 each...
1. Susan has a 401k plan through her job and has accumulated $375,000 in her account....
1. Susan has a 401k plan through her job and has accumulated $375,000 in her account. Her company has invested her funds in a high interest-bearing account yielding 8% per year. She would like to retire with $600,000 in her account. When will she be able to retire? 2. Joe has $100,000 in an investment account. He is looking to retire in 12 years. He needs a minimum of $240,000 in order to retire. What rate of return does Joe...
An employee takes time of her trip from her home to office as normally distributed with a mean of 21 minutes and a standard deviation of 7 minutes.
  An employee takes time of her trip from her home to office as normally distributed with a mean of 21 minutes and a standard deviation of 7 minutes. What proportion of her trip takes between 25 and 29 minutes? Draw the graph also.   Find the probability that standard normal random variable takes on the given values. Show the required area on the graph.   Pz=2.5   Pz0-Pz<-1.96   P-1.05<z   P-∞<z<+      2 P0<z<1  
Sam has just celebrated her 25th birthday. On her way home from the Easter Holiday celebrations...
Sam has just celebrated her 25th birthday. On her way home from the Easter Holiday celebrations in Portugal, she was nearly involved in an accident. It was at this point that she realised that she needs to save up for her retirement at the age of 55. She currently has no savings available. When Sam retires, she wants to buy a cattle farm in Portugal that will be valued at R3 500 000 in 30 years. She also wants to...
B&E Incorporated is trying to select the best alternative from two options. Each alternative has an...
B&E Incorporated is trying to select the best alternative from two options. Each alternative has an initial cash outlay of $100,000. The cash flows for the alternatives are as follows: Year Investment A Investment B 1 $ 10,000 $ 50,000 2    20,000 40,000 3 30,000 30,000 4 5    40,000 150,000 0 0 For each alternative investments, compute the Payback Method and select the best investment (using the Payback Method Results).
There are two routes for eliminating solutes from the circulation. The first is _______, which transfers...
There are two routes for eliminating solutes from the circulation. The first is _______, which transfers solutes directly from the blood to the tubular lumen, and the other is _______, which transfers solutes from peritubular capillaries to interstitial fluid, and from there through tubular cells into the tubular lumen. Multiple Choice passive transport; active transport filtration; tubular secretion filtration; passive transport tubular secretion; filtration
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT