Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Question: The St. Maries plywood plant is part of the Potlatch Corporation's Northwest Division. The plywood superintendent organized a study of the tree diameters that are being shipped to the mill. After collecting a large amount of data on diameters, he concluded that the distribution is approximately normally distributed with a mean of 14.25 inches and a standard deviation of 2.92 inches. Because of the way plywood is made, there is a certain amount of waste on each log because the peeling process leaves a core that is approximately 3 inches thick. For this reason, he feels that any log less than 10 inches in diameter is not profitable for making plywood.

a. Based on the data the superintendent has collected, what is the probability that a log will be unprofitable?

b. An alternative is to peel the log and then sell the core as "peeler logs." These peeler logs are sold as fence posts and for various landscape projects. There is not as much profit in these peeler logs, however. The superintendent has determined that he can make a profit if the peeler log's diameter is not more than 32% of the diameter of the log. Using this additional information, calculate the proportion of logs that will be unprofitable.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92460948
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Suppose a life insurance company sells a 230000 one-year

Suppose a life insurance company sells a $230,000 ?one-year term life insurance policy to a 20?-year-old female for ?$330. The probability that the female survives the year is 0.999642. Compute and interpret the expected ...

Many manufacturing problems involve the accurate matching

Many manufacturing problems involve the accurate matching of machine parts, such as shafts, that fit into a valve hole. A particular design requires a shaft with a diameter of  22.000  mm, but shafts with diameters betwe ...

Suppose a soccer team wins each of its games with

Suppose a soccer team wins each of its games with probability 0.4, loses with probability 0.4, and ties with probability 0.2, with each game's outcome independent. Their season starts, and they play a game every day.Let  ...

You want to you want to estimate the mean weight of

You want to you want to estimate the mean weight of quarters in circulation. A sample of 30 quarters has a mean weight of 5.649 grams in a standard deviation of 0.066 gram. Use a single value to estimate the mean weight ...

The weights of ice cream cartons are normally distributed

The weights of ice cream cartons are normally distributed with a mean weight of 20 ounces and a standard deviation of 0.5 ounces. You randomly select 25 cartons. What is the probability that their mean weight is greater ...

In a study of helicopter usage and patient survival among

In a study of helicopter usage and patient? survival, among the 55,032 patients transported by? helicopter, 227 of them left the treatment center against medical? advice, and the other 54,805 did not leave against medica ...

You know that the price of sunland inc stock will be 36

You know that the price of Sunland, Inc., stock will be $36 exactly one year from today. Today the price of the stock is $34. Determine what must happen to the price of Sunland, Inc., today in order for an investor to ge ...

What would be examples of valid selection methods used by

What would be examples of valid selection methods used by the human resource department to ensure selecting the appropriate candidate for a job.

A national report indicates that the mean and standard

A national report indicates that the mean and standard deviation of the ACT scores of incoming freshman at American public universities are 24.6 and 6.2, respectively. A sample of 30 incoming freshmen at a small, suburba ...

In general a binomial distribution can be approximated well

In general, a binomial distribution can be approximated well using a normal distribution only if

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As