A soft-drink company produces 100000 12-ounce bottles of, Ask an Expert

Statistics

A soft-drink company produces 100,000 12-ounce bottles of soda per year.

By adjusting a dial, the company can set the mean number of ounces placed in a bottle.

Regardless of the mean, the standard deviation of the number of ounces in a bottle is 0.05 ounce. The soda costs 5 cents per ounce. Any bottle weighing less than 12 ounces will incur a $10 fine for being underweight. Determine a setting for the mean number of ounces per bottle of soda that minimizes the expected cost per year of producing soda.

Your answer should be accurate within 0.001 ounce. Does the number of bottles produced per year influence your answer?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91922628

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

In a survey of 3439 adults 1418 say they have started

In a survey of 3439 adults, 1418 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results.

1 prince georges county publicnbspschools wants to access

1) Prince George's County Public Schools wants to access the effectiveness of its new 1st grade reading program. Ten 1st grade classrooms are randomly selected from across the county. What kind of sampling method is bein ...

You work for a firm that manufactures dvd players your dvd

You work for a firm that manufactures DVD players. Your DVD players last an average of 800 days with a standard deviation of 200 days. You want to set the warranty length such that you only have to replace 1.5% of all th ...

You need to have accumulated savings of 2 million by the

You need to have accumulated savings of $2 million by the time that you retire in 20 years. You currently have savings of $200,000. How much do you need to save each year to meet your goal if your savings earn a return o ...

Pete pablo has 20000 to invest he is very optimistic about

Pete Pablo has $20000 to invest. He is very optimistic about the prospects of two companies, 919 Brands and Diaries.com. However, Pete has a very pessimistic view of one company, a financial institution known as Star Ban ...

A survey of a random sample of 1000 smartphone owners found

A survey of a random sample of 1000 smartphone owners found that the mean daily time spent communicating on a smartphone was 131.4 minutes. From previous studies, it is assumed that the population standard deviation is 2 ...

15-18 years 419-22 years 523-26 years 627-30 years 931-34

15-18 years 4 19-22 years 5 23-26 years 6 27-30 years 9 31-34 years 2 35-38 years 7 Based on the frequency distribution above, find the relative frequency for the class 15-18 . Relative Frequency = % Give your answer ...

When you purchased your house you took out a 30-year

When you purchased your? house, you took out a? 30-year annual-payment mortgage with an interest rate of 7% per year. The annual payment on the mortgage is 16,803. You have just made a payment and have now decided to pay ...

Two candidates face each other in an election the

Two candidates face each other in an election. The Democratic candidate is supported by 58% of the population, and the Republican candidate is supported by 42%. In other words, if you randomly chose a voter and asked the ...

You can invest money each month at 6 percent interest

You can invest money each month at 6 percent interest compounded monthly over the next 30 years. In 30 years, you will take all the money you invested and put it into an account earning 8 percent compounded monthly. Then ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert