Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.In a population, 95% of adults weigh between 50-80kg.Assuming a standard normal distribution, show your calculations and show on a standard normal distribution diagram: (a)

1.In a population, 95% of adults weigh between 50-80kg.Assuming a standard normal distribution, show your calculations and show on a standard normal distribution diagram:

(a) The mean

(b) The adult weights that correspond to the following z-scores:

-3.5, -2.5, -1, +0.5, 2, 3.

2.A manufacturing company produces tires at a cost of $65 each.The following are probabilities of defective tires in a given production run: probability of no defective tires 8%; probability of 1% defective tires 32%; probability of 2% defective tires 35%; probability of 3% defective tires 25%.When a defective tire is detected, it must be removed from the assembly line.The tire is discarded, and replaced by another tire.This process adds an extra $6 to the cost to install the replacement tire.

a)What is the expected cost to the company of a batch of 4,000 tires?Show your calculations.

b)What would be the cost to the company to produce the same batch of 4,000 tires if there were no defects?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Techniques In Business And Economics

Authors: Douglas A. Lind, William G. Marchal, Samuel Adam Wathen

13th Edition

9780070667075

More Books

Students also viewed these Mathematics questions