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A machine is expected to use several spare parts during its useful life. The frequency distribution below shows the probable usage of spare parts by

A machine is expected to use several spare parts during its useful life. The frequency distribution below shows the probable usage of spare parts by the machine. The spare parts cost $400 each and have no salvage value or other use. For what range of shortage costs would stocking one spare part constitute an optimal decision? Usage Frequency 0 0.08 1 0.30 2 0.24 3 0.20 4 0.18

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