The specifications on an electronic component in a target, Ask an Expert

Statistics

The specifications on an electronic component in a target acquisition system are that its life must be between 5,000 - 10,000 h. The life is normally distributed with mean 7500 h. The manufacturer realizes a price of $10 per unit produced; however defective units must be replaced at a cost of $5 to the manufacturer.

Two different manufacturing processes can be used, both of which have the same mean life. However the standard deviation of life for process 1 is 1000 h, where as process 2 is only 500 h. Production costs for process 2 are twice those for process 1. What value of production cost will determine the selection between processes 1 and 2?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9990540

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Rand corporation has a 00 probability of a return of 06 a

Rand Corporation has a 0.0 probability of a return of 0.6, a 0.3 probability of a rate of return of 0.05, and the remaining probability of a 0.92 rate of return. What is the expected rate of return of Rand Corporation?

David barnes and his fianceacutee valerie shah are visiting

David Barnes and his fiancée Valerie Shah are visiting Hawaii. There are 38 guests registered for orientation. It is announced that 20 randomly selected registered guests will receive a free lesson of the Tahitian dance. ...

Assume that showing a car is a bernoulli trial and each

Assume that showing a car is a Bernoulli trial, and each time she shows a car, there is a probability of 0.15 that the customer will buy the car. The saleswoman has a goal of selling at least one car a week. 1) How many ...

Most graduate schools of business require applicants for

Most graduate schools of business require applicants for admission to take the GMAT, the Graduate Management Admission Test. Scores on the GMAT are roughly normally distribute with a mean of 527 and a standard deviation ...

The number of cell phones per 100 residents in countries in

The number of cell phones per 100 residents in countries in Europe is given in table 9.3.9 for the year 2010. The number of cell phones per 100 residents in countries of the Americas is given in table 9.3.10 also for the ...

Suppose you just purchased a digital music player and have

Suppose you just purchased a digital music player and have put 9 tracks on it. After listening to them you decide that you like of the songs. With the random feature on your? player, each of the 9 songs is played once in ...

Explain how the company newmans own brand fulfills the

Explain how the company Newman's Own brand fulfills the definition of a business for profit and a non-profit business at the same time. Consider in the response the functions of business, entrepreneurship and production ...

The height of 5th grade boys is normally distributed with

The height of 5th grade boys is normally distributed with mean μ=57 inches and standard deviation σ=2 inches. What is the probability that the height of a randomly selected 5th grade boy will be between 53 inches and 61 ...

The acme insurance company has two types of customers

The ACME Insurance Company has two types of customers, careful and reckless. A careful customer has an accident during the year with probability 0.01. A reckless customer has an accident during the year with probability ...

How would i calculate this anystate auto insurance company

How would I calculate this: Anystate Auto Insurance Company took a random sample of 382 insurance claims paid out during a 1-year period. The average claim paid was $1590. Assume σ = $234. Find a 0.90 confidence interv ...

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