Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A clothing store manufactures their pants to a certain specification of fit. If the fit is perfect, they sell them for full price in their

A clothing store manufactures their pants to a certain specification of fit. If the fit is perfect, they sell them for full price in their stores at $80 per pair of pants. If the pant legs are the incorrect length or the waist is not correct, they will sell them in their outlet store for $25. If the waist and length are not correct, they cannot be sold. They will send them to be recycled and that will cost them $5 per pair. The probability that the length of the pants is perfect is 0.78 and the probability that the waist is perfect is 0.88.

Show the probability function for 0, 1 and 2 defects as a graph (draw this by hand and label appropriately). (10 points)

Draw a graph of the cumulative distribution.(10 points)

On average, what should the company expect to make on each pair of pants? (15 points)

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

Step: 3

blur-text-image

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

A First Course In Probability

Authors: Sheldon Ross

10th Edition

0134753119, 978-0134753119

More Books

Students also viewed these Mathematics questions

Question

7. Down two, right one

Answered: 1 week ago