Question
A production line was automated. The engineer estimates that the savings could be as high as $ 40,000 per year with a 25% probability. The
A production line was automated. The engineer estimates that the savings could be as high as $ 40,000 per year with a 25% probability. The most likely savings is $ 35,000 per year. The pessimistic saving is estimated at $ 30,000 with a probability of 35%. The probability of a useful life of 5 years is one third (1/3) of the probability of a useful life of 4 years. Find the probability distribution for this project and fill in the blanks with the results. Fill in the blanks: The probability of a savings of $ 35,000 is (Answer) percent . The probability of a 5-year shelf life is (Answer)
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