Sample_Paths - Introductory Engineering Stochastic...

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Unformatted text preview: Introductory Engineering Stochastic Processes, ORIE 361 Instructor: Mark E. Lewis, Associate Professor Motivating Example Suppose you are Houston Jones. You work for a well-known micro-chip developer Pintel . You are part of the logistics group and are responsible for making production quantity and shipping decisions. Today your boss walked in and said, Houston, we have a problem. We are committed to providing 300,000 chips to Menovo in 7 weeks. This does not initially seem like a problem to you since you know you have the capacity to meet this demand, but the boss then points out that ALL of the plants owned by Pintel that could produce over the next two months were damaged in the large storm recently. He asks you to look at the current inventory and decide how many chips you actually will be able to provide. Again, this does not seem very difficult, except that you look at the calendar and realize that you have a contract to fill orders by Cell weekly over the next several weeks. How do you go about estimating the inventory you will have available in 7 weeks?...
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Sample_Paths - Introductory Engineering Stochastic...

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