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Now consider a production process with three sequential processes, P1, P2 and P3; the processing times at each of the process is normall distributed as
Now consider a production process with three sequential processes, P1, P2 and P3; the processing times at each of the process is normall distributed as follows (all times in minutes): Process 1: mean 38, standard deviation , 14 Process 2: mean 59, standard deviation, 22 Process 3: mean 120, standard deviation, 36 The labor per minute labor cost at each process is as follows: Process 1: C1= $0.99 /min Process 2: C2= $1.85/min Process 3: C3= $2/min Total time of production for a given unit product is T = time taken at P1+ time taken at P2 + time taken at P3 Total cost of production for a given unit product is C = labor cost incurred at P1+ labor cost incurred at P2 + labor cost incurred at P3 You are supposed to determine the mean and standard deviation of T and C. T: mean time = C: mean time = $ 217 hours; standard deviation of T = 44 hours (round to the nearest integer) 386.77 ; standard deviation of C = $ 83.86 (round to TWO places of decimal)
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