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Clark Property Management is responsible for the maintenance rental and day-to-day operation of a large apartment complex on the east side of New Orleans George Clark is especially concerned about

Clark Property Management is responsible for the maintenance, rental, and day-to-day operation of a large apartment complex on the east side of New Orleans. George Clark is especially concerned about the cost projections for replacing air conditioner compressors. He would like to simulate the number of compressor failures each year over the next 20 years. Using data from a similar apartment building he manages in a New Orleans suburb, Clark establishes a table of relative frequency of failures during a year as shown in the following table:

NUMBER OF A.C.
COMPRESSOR FAILURES

PROBABILITY
(RELATIVE FREQUENCY)

0

0.06

1

0.13

2

0.25

3

0.28

4

0.20

5

0.07

6

0.01

He decides to simulate the 20-year period by selecting two-digit random numbers from the third column of, starting with the random number 50. Conduct the simulation for Clark. Is it common to have three or more consecutive years of operation with two or fewer compressor failures per year?

Aug 10 2020 View more View Less

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