LEC01a Random Variable and Hist

LEC01a Random Variable and Hist - Welcome to Engineering...

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Welcome to Engineering Probability 540:210 Professor Susan
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What is probability? Branch of math that deals with uncertainty Repeat operation again & again Each time, different outcome IE: How to operate efficiently under uncertainty
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IEs Make Decisions Under Uncertainty Decide: How many servers in call center? Uncertainty: time between arrivals Uncertainty: length of service times Decide: How many of each textbook to order? Uncertainty: demand for book Decide: How to schedule surgeries in operating rooms?
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Supply Chain Example Manufacturin g Plant
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Characterizing Uncertainty in Product Demand Plant Decides: How many units to produce each day to meet demand? Uncertainty: number of customers (Each customer buys one unit) Costs Perishable product - whatever is not sold is waste Penalty for stockout
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Demand per Day – Sample of 40 days 229, 232, 239, 232, 259, 361, 220, 260, 231, 229, 249, 254, 257, 214, 237, 253, 274, 230, 223, 253, 195, 269, 231, 268, 250, 290, 218, 313, 220, 270,
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LEC01a Random Variable and Hist - Welcome to Engineering...

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