4. For an out-of-round condition (smaller-the-better) of a steel shaft, the true indicator readings (TIR) for eight shafts are 0.05, 0.04, 0.04, 0.03, 0.04, 0.02, 0.04, and 0.03 mm.

a. If the average loss at 0.03 is $15.00, what is the loss function?

b. What is the loss at 0.05?

c. What is the average loss?