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In 2008, Amphenol Industrial purchased a new quality inspection system for $550,000. The esti- mated salvage value was $50,000 after 8 years. Currently the expected remaining life is 3 years with an AOC of $27,000 per year and an estimated salvage value of $30,000. The new president has recommended early replacement of the system with one that costs $400,000 and has a 5-year economic service life, a $45,000 salvage value, and an estimated AOC of $50,000 per year. If the MARR for the corporation is 12% per year, find the minimum trade-in value now necessary to make the president's replacement economically advantageous. A CNC milling machine purchased by Proto Tool and Die 10 years ago for $75,000 can be used for 3 more years. Estimates are an annual operating cost of $63,000 and a salvage value of $25,000. A chal- lenger will cost $130,000 with an economic life of 6 years and an operating cost of $32,000 per year. Its salvage value will be $45,000. On the basis of these estimates, what market value for the existing asset will render the challenger equally attractive? Use an interest rate of 12% per year.Find the probability distribution for the number of jazz CDs when 4 CDs are selected at random from a collection consisting of 5 jazz CDs, 2 classical CDs, and 3 rock CDs. Express your results by means of a formula. A tire manufacturer wants to determine the inner diameter of a certain grade of tire. Ideally, the diameter would be 570 mm. The data are as follows: 572, 572, 573, 568, 569, 575, 565, 570. (a) Find the sample mean and median. (b) Find the sample variance, standard deviation, and range. (c) Using the calculated statistics in parts (a) and (b), can you comment on the quality of the tires?Consider the density function SAVE, 02, Y= 1); c) (C) P(X > Y);(d) P(X + Y = 4). A coin is flipped until 3 heads in succession occur. List only those elements of the sample space that require 6 or less tosses. Is this a discrete sample space? Explain.For the density function of Exercise 3.17, find F(x). Use it to evaluate P(2 1/2).An investment firm offers its customers municipal bonds that mature after varying numbers of years. Given that the cumulative distribution function of 7, the number of years to maturity for a randomly selected bond, is t 3); (c) P(1.4 2)