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Management Accounting, simulations & linear progr.

by | Nov 30, 2023 | questions

Monte Carlo sim,Transfer Pricing,Linear Progr(Solver),Regression analysis

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Assessment Item 2
Picture this: You and a few friends have just graduated from Charles Sturt University and see in the newspaper the opportunity to submit a tender to build 6 new medical centres. The medical centre is a franchisee of Mediocre Medical Centres. If the tender is successful part of the job will involve designing a prototype medical centre which will consist of 10 consulting rooms, 2 surgery’s, a community health section, pharmacy and a café. The difference in this design is the floor needs to be rotating enabling patients to be moved around without walking.
Your mates are Arty the architect, Doc the doctor, Mark the marketing manager and yourself a management accountant. As a group you work on the tender criteria together.
Question 2 (10 marks)
The new medical centre wants you to simulate the day appointments schedule for one doctor. An analysis has been done predicating one week’s operation and has come up with the following results:
Time between arrivals
Number of occasions
10
15
15
30
20
25
25
20
30
10
Appointment length
Number of occasions
7
40
12
20
15
20
20
10
30
10
Required:
What is the probability that the time between arrivals will be 20 minutes or more? (1 mark)
What is the probability that the appointment time will be 12 minutes or less? (1 mark)
Using monte carlo simulation with the random numbers below, simulate 5 arrivals and 5 appointments: (4 marks)
Random numbers:
Random number
Arrival time
Appointment length
35, 92, 05, 44, 75
4, 2, 6, 9, 4
After 5 simulations what is the total waiting time of patients? (2 marks)
What is the total idle time of the doctor at the end of the first hour? (1 mark)
What is the largest queue of students that forms? (1 mark)
Question 3 (15 marks)
Your mate Arty the architect is feeling overwhelmed by the idea of designing the rotating the floor in the medical centres, and questions if it is worthwhile in the long-run spending all the time designing…

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