28 Jun DECISION MAKING AND MANAGEMENT SCIENCE
You have just been hired at a nearby hospital as a Strategic and Quality management graduate. The manager of the hospital dispensary unit wants to know the Monthly demand of different drugs. There are a number of newly hired graduates from different universities and colleges from the UAE. The manager has given you some historical data that was collected in the past months. Each observation is recorded in the table below. The manager wants you to determine the monthly demand of Penicillin from the given data.
301 310 305 309 301 310 308 303 310
304 305 306 302 307 305 302 307 304
309 302 305 305 306 304 306 302 310
303 308 303 303 301 309 302 305 310
305 306 310 307 310 307 305 304 304
305 301 302 305 304 301 308 307 301
305 301 308 307 302 302 307 306 302
308 303 306 307 309 305 308 302 309
Answer the following Questions
1. Create a table that shows:
a. Frequency distribution of the historic data of the demanded penicillin [1 mark each]
b. Determine the probability for each historic demand of penicillin with 2 decimal places [1 mark each]
c. Determine the cumulative probabilities for the penicillin [1 mark each]
d. Determine the random number intervals for the penicillin [1 mark each]
2. Calculate the monthly expected demand using the historic demand data and the probabilities calculated above to the nearest whole number. [10 marks]
3. What are the demands if the following random numbers were selected using the simulation model? [10 marks]
a. 0.8381
b. 0.6259
c. 0.8286
d. 0.3544
e. 0.7863
4. Using each of the random #1 determine the monthly demand and use random #2 to calculate the profit margin using continuous uniform distribution formula to determine the profit for each demand where a= 20 and b=30. The Fixed costs are at Dh1500. [20 marks each]
Random # 1 Demand Random#2 Selling Price
0.346227 0.346227 Dh16
0.130947 0.130947 Dh14
0.783287 0.783287 Dh13
0.990488 0.990488 Dh16
0.674082 0.674082 Dh18
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